After a streak of five consecutive days of net outflows, Bitcoin ETFs experienced a significant reversal on Monday, recording a total net inflow of $15.7 million.
Data from SoSo Value reveals that Fidelity’s Bitcoin ETF (FBTC) led the surge, attracting an impressive net inflow of approximately $261 million in a single day. Following closely, BlackRock’s Bitcoin ETF (IBIT) also saw substantial net inflows of about $35.4 million. In contrast, the Grayscale Bitcoin Trust (GBTC) faced a notable net outflow of $350 million on the same day.
This turnaround comes after a challenging week for Bitcoin ETFs, which witnessed over $885 million in net outflows. The impact of the net inflow was evident in Bitcoin’s market performance, with the leading cryptocurrency reaching $71,000 again and experiencing a 26% increase in daily trading volume.
The success of U.S. spot Bitcoin ETFs is prompting interest in institutional exposure to Bitcoin in other countries. The London Stock Exchange recently announced plans to list Bitcoin and Ethereum exchange-traded notes (ETNs) starting May 28, with applications opening in April.
Furthermore, the anticipation for other crypto-based investment vehicles is growing, as Grayscale Chief Legal Officer predicts the launch of Ethereum ETFs by May.
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