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Surge in Investor Confidence: U.S. Spot Bitcoin ETFs Attract $418 Million in One Day, Led by Fidelity and BlackRock

In the recent financial landscape, the United States spot Bitcoin exchange-traded funds (ETFs) have witnessed a remarkable resurgence in investment, marking a significant turnaround after experiencing a series of net outflows over five days.

This rejuvenation was particularly evident on March 26, when the 10 newly sanctioned spot Bitcoin ETFs collectively attracted a net inflow of $418 million, as reported by Farside Investors data.

Among these, BlackRock’s and Fidelity’s funds were at the forefront, channeling robust inflows that underscored investor confidence.

Fidelity’s Bitcoin ETF, in particular, showcased its strongest daily inflow since March 13, securing an impressive $279.1 million on March 26.

This surge was accompanied by the acquisition of an additional 4,000 BTC, marking the fund’s second day of inflows surpassing the $260 million threshold.

Meanwhile, BlackRock’s Bitcoin ETF also drew significant attention with inflows of $162.2 million, despite these figures not matching the higher inflow rates seen earlier in the month, which averaged over $300 million daily.

The investment enthusiasm extended beyond these two giants, with the Ark 21Shares Bitcoin ETF recording its most substantial day since March 12, amassing $73.6 million in inflows.

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Similarly, Invesco Galaxy, Franklin Templeton, and Valkyrie each experienced inflows exceeding $26 million in their respective funds.

In contrast, Grayscale’s Bitcoin Trust (GBTC) faced a significant outflow of $212 million on the same day.

Despite this, the cumulative net inflows into other funds overwhelmingly counteracted GBTC’s losses.

Since transitioning from a trust to an ETF on January 11, Grayscale has witnessed a dramatic reduction of 277,393 BTC, equating to an approximate value of $19.5 billion.

Highlighting the significance of these developments, Bloomberg’s senior ETF analyst Eric Balchunas pointed out the inclusion of Bitcoin ETFs among the largest 30 asset funds within their initial 50 days of trading in a post on X (formerly Twitter) on March 26.

BlackRock’s IBIT and Fidelity’s FBTC stood out, with Balchunas noting their exceptional performance.

He also mentioned that the Bitwise Bitcoin ETF, despite being the 18th largest in terms of assets under management, surpassed the world’s largest SPDR Gold Shares fund in size.

Adding to the evolving Bitcoin ETF landscape, Hashdex emerged as the 11th issuer of spot Bitcoin ETFs in the U.S. on March 26, transitioning its futures fund into a spot product now trading under the ticker DEFI.

This strategic move further underscores the growing embrace and diversification of Bitcoin-related investment products in the financial market.

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Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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