🌎 Bitcoin ETFs Lead Market Surge with $15.7M Inflow

Bitcoin ETFs experienced a significant increase in net inflow of $15.7 million on Monday, marking a reversal from a five-day streak of net outflows. According to data from SoSo Value, Fidelity’s Bitcoin ETF (FBTC) led the way with a remarkable net inflow of approximately $261 million in a single day. Following FBTC, BlackRock’s Bitcoin ETF (IBIT) also saw a substantial net inflow of about $35.4 million. These numbers sharply contrast with the Grayscale Bitcoin Trust (GBTC), which witnessed a notable net outflow of $350 million on the same day.

The recent total net inflow since launch highlights the growing interest in Bitcoin ETFs and their impact on the market. This positive trend was reflected in Bitcoin’s market performance, as the leading cryptocurrency surged back to $71,000. BTC’s daily trading volume also saw a significant increase of 26%.

The success of U.S. spot Bitcoin ETFs is not only boosting market confidence but also encouraging other countries to consider institutional exposure to Bitcoin. The London Stock Exchange announced plans to list Bitcoin and Ethereum exchange-traded notes (ETNs) starting May 28, with applications opening in April.

Furthermore, the growing interest in crypto-based investment vehicles is evident as Grayscale CLO predicts the launch of Ethereum ETFs by May. This development signifies a positive outlook for the cryptocurrency market and its potential for further growth.