Category: Forex News

Bitcoin (BTC) News Today: Halving Clock Ticks Blow 40 Days Amidst ETF Inflow Surge

Significantly, iShares Bitcoin Trust (IBIT) and Fidelity Wise Origin Bitcoin Fund (FBTC) saw higher net inflows. IBIT saw net inflows increase from $2,050.5 million to $2,070.6 million in the week ending March 8. FBTC saw net inflows surge from $708.6 million to $1,339.6 million.

Higher Grayscale Bitcoin Trust (GBTC) net outflows left total market inflows short of the weekly high of $2,271 million recorded in the week ending February 16. GBTC outflows increased from $1,455.7 million to $1,654.4 million. The markets attributed the GBTC outflows to the court ruling, allowing Genesis Global Hold Co to liquidate approximately $1,300 million of GBTC shares.

ETFStore President Nate Geraci shared his views on the BTC-spot ETF market on Saturday, saying,

“iShares Bitcoin ETF has eclipsed $10bil net inflows… That’s net inflows in 40-days. Pulling down avg of $250mil/day. Now at $13.6bil AUM. For context, ARK Invest has about $16.5bil in total assets. Firm launched in 2014.”

iShares Bitcoin Trust Flips MicroStrategy on BTC Holdings

Bloomberg Intelligence Senior ETF Analyst Eric Balchunas shared a post from Fred Krueger, saying,

“All this was bound to happen, but not in eight weeks. Scary fast.”

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