On March 11, 2024, the U.S. Spot Bitcoin ETF experienced an unprecedented surge in inflows, marking a significant milestone in the cryptocurrency market. According to provisional data by Farside UK, the ETF attracted approximately $505.6 million in institutional investments, showcasing a substantial vote of confidence in digital assets.
Notably, this surge in inflows highlights the growing interest of institutional investors in Bitcoin, despite the challenges posed by Grayscale’s Bitcoin Trust (GBTC) experiencing robust outflows. The spotlight is particularly on industry giants BlackRock and Fidelity, whose respective products, iShares Bitcoin Trust (IBIT) and FBTC, collectively amassed over $775 million in inflows.
BlackRock’s IBIT reported an impressive influx of $562.9 million, emphasizing the increasing institutional confidence in Bitcoin as a viable asset class. Similarly, Fidelity’s FBTC recorded a significant inflow of $215.5 million, further solidifying institutional supp
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