On March 12th, the exchange-traded funds (ETFs) for Bitcoin in the United States reached a remarkable milestone. For the first time ever, these funds managed to attract more than $1 billion in net inflows, indicating an increasing demand for Bitcoin investments.

Investors have been showing a keen interest in Bitcoin ETFs, with daily inflows reaching an impressive $11.1 billion over the last 13 days. This surge in investments is a clear indication of the growing popularity of Bitcoin as a mainstream investment asset.

On March 12, Bitcoin ETFs experienced a significant boost, with the biggest daily inflow ever recorded at $1.045 billion. This massive increase was largely due to the BlackRock iShares Bitcoin ETF (IBIT), which has been performing exceptionally well in the market.

BlackRock’s IBIT ETF tracks the performance of the Bitcoin market, allowing investors to benefit from the cryptocurrency’s price movements without having to hold the digital currency itself. This has made it an attractive investment option for those who are interested in Bitcoin but are hesitant to invest directly in cryptocurrencies.

The surge in investments into Bitcoin ETFs is a clear indication that investors are increasingly looking for ways to diversify their portfolios and capitalize on the potential of cryptocurrencies. As more institutional investors enter the market, it is likely that the popularity of Bitcoin ETFs will continue to grow, further driving up investments in this asset class.

In terms of inflows, IBIT outperformed its peers by receiving a total of $849 million. On the other hand, ARK, HOLD, and FBTC had comparatively lower contributions of $93 million, $82.9 million, and $51.6 million, respectively.

Also Read: https://www.blockmagic.in/articles-features/bitcoin-etfs-the-basics-explained/