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    Home ยป Bitcoin ETFs saw a staggering $418 million rebound following recent outflows
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    Bitcoin ETFs saw a staggering $418 million rebound following recent outflows

    ZEMS BLOGBy ZEMS BLOGMarch 28, 2024No Comments2 Mins Read
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    US Bitcoin ETFs saw a notable reversal this week, with a massive net inflow of $418 million on Tuesday. This comes after ETFs saw 5 consecutive days of net outflows last week during Bitcoin's decline below $60,000.

    new: #Bitcoin ETFs saw a net inflow of $418 million yesterday after five straight days of outflows last week.

    We are back ๐Ÿ™Œ pic.twitter.com/qfobpZOT5b

    – Bitcoin Magazine (@BitcoinMagazine) March 27, 2024

    The shift signals renewed confidence among institutional investors, who have eagerly piled into Bitcoin ETFs since the first US ETFs were approved earlier this year. The Securities and Exchange Commission (SEC) has now approved eleven Bitcoin ETFs after years of rejecting applications.

    Fidelity's Wise Origin Bitcoin Trust ETF (FBTC) led the rally on Tuesday. It saw a staggering $279 million in inflows, the largest single-day gain since its launch.

    This influx stands in stark contrast to the bearish sentiment of last week, when more than $200 million flowed out of Bitcoin exchange-traded funds as prices fluctuated amid a broader decline in Bitcoin prices.

    Now, with Bitcoin holding steady at around $70,000, institutional interest is returning. While Grayscale's Bitcoin Trust (GBTC) continued to hemorrhage assets, BlackRock's iShares Bitcoin ETF (IBIT) saw it add $162 million on Tuesday. Total assets under management across Bitcoin ETFs are approximately $59 billion.

    The sharp reversal in inflows underscores Wall Street's growing appetite for exposure to Bitcoin via regulated investment vehicles. Bitcoin ETFs are passing their first real test in a volatile market environment.

    If the adoption trend continues despite market volatility, Bitcoin ETFs could cement their position as the Bitcoin of choice for institutional dollars. Its growth and resilience reflect the mainstream acceptance of Bitcoin.



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