- Bitcoin ETFs have set a new record.
- The funds witnessed their biggest-ever daily inflows.
- The development comes as BTC hovers around a new ATH price level.
Spot Bitcoin exchange-traded funds (ETFs) have set a new record after witnessing their biggest inflows of over $1 billion on March 12, BitMEX Research data shows.
The record-breaking milestone highlights increased investor appetite and demand for these new investment products. It also highlights the underlying crypto asset, Bitcoin, which has gained 232.9% in the last year and is now trading at a new all-time high price level.
Bitcoin ETF Inflows Surge Aligns with BTC Rally
According to a post shared by BitMEX Research on Wednesday, spot Bitcoin ETFs closed yesterday with a massive 14,706 BTC inflow, approximately $1.045 billion per current market price.
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BlackRock’s iShares Bitcoin ETF (IBIT), which recently surpassed $10 billion in assets under management (AUM), accounted for $849 million of inflow. At the same time, Fidelity’s FBTC, VanEck’s HOLD, and 21Shares’ ARK witnessed comparatively lower inflows of $51.6 million, $82.9 million, and $93 million, respectively.
Despite the Franklin Bitcoin ETF (EZBC) recording its lowest inflows ($148 million) to date, yesterday’s performance continues the objectively successful trend of these funds across nearly all measurable metrics.
Since their launch on January 11, the funds managed to record $4.1 billion in net inflows and capture over 90% of the daily trading volume market share for ETFs offering Bitcoin exposure as of yesterday, marking yet another milestone for the BTC ecosystem.
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Meanwhile, BTC surged over 2% in the last 24 hours to an all-time high price of $73,517.03 on March 13, according to CoinMarketCap data. The crypto asset was trading at $73,205 with a market cap of $1.44T as of press time.
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