- Despite significant outflows from Grayscale, the Spot Bitcoin ETF market continues to be an attractive center for investors who have accumulated approximately 175,000 BTC since its launch.
- Fidelity’s FBTC stands out, recording the highest inflow since its launch on March 7th, amounting to $473.4 million or 7,030.2 BTC.
- James Butterfill, Head of CoinShares Research, commented on this increase, stating, “US Bitcoin ETF issuers show no signs of slowing down in inflows.”
Despite significant outflows experienced by Grayscale, issuers, especially Fidelity, are gaining strength in the US Spot Bitcoin ETF market.
Inflows Continue in Spot Bitcoin ETFs
The Spot Bitcoin ETF market in the United States remains an important attraction for investors who have accumulated approximately 175,000 BTC since its launch, despite significant outflows from Grayscale. Particularly, Bitcoin ETFs continued their strong momentum this week, with Fidelity FBTC recording its highest inflow since its launch on March 7th.
However, the latest data indicates a decrease in the inflow from BlackRock this week, sparking curiosity among investors. Investor interest in the US Spot Bitcoin ETF has surged since its inception, reaching total inflows of $9.36 billion, equivalent to 174,881.2 BTC. Just on March 7th, these ETFs accumulated 7,018.2 BTC, indicating an increased demand for Bitcoin investment vehicles.
In the meantime, Fidelity’s FBTC stood out, recording a $473.4 million inflow or 7,030.2 BTC, the highest since its launch on March 7th. Following this, BlackRock recorded a $244.2 million inflow or 3,627.3 BTC on the same day. However, while Fidelity’s inflow increased, there was a tendency for cooling in BlackRock’s IBIT.
In contrast, Grayscale’s GBTC faced significant outflows, recording a loss of $374.8 million on the same day. Since the launch of US Spot BTC ETFs in January 2024, Grayscale’s total outflow has reached $10.25 billion or 217,844.7 BTC.
James Butterfill, Head of CoinShares Research, commented on this increase, stating, “US Bitcoin ETF issuers show no signs of slowing down in inflows.” This sentiment reflects the bullish outlook of investors towards Spot Bitcoin ETFs and the overall digital asset market.
Global Digital Asset Sector Experiencing Extraordinary Growth
Bitcoin ETFs have increased investor confidence in the digital asset sector. Especially beyond BTC ETFs, there is a significant increase in investments in the global digital asset sector. As of March 7th, James Butterfill shared information revealing a total fund flow in the Digital Asset sector exceeding $10 billion Year to Date (YTD). This is approaching the $10.6 billion figure observed in 2021.
In this increase, the United States stands out with a significant inflow of $10.45 billion in 2024, reflecting significant growth compared to only $4.64 billion observed in 2021. This rapid growth indicates an increased investor trust in digital assets and belief in their long-term value appreciation potential.
