On Monday, Bitcoin ETFs witnessed a total inflow of $15.7 million, which was an enormous shift from the previous five days when they saw total withdrawals. Based on information from SoSo Value, Fidelity’s Bitcoin ETF (FBTC) led this rise, with an inflow of about $261 million in the span of one day.
BlackRock’s Bitcoin ETF (IBIT), which followed closely behind, also saw an increase of interest, with an aggregate inflow of about $35.4 million. These results are significantly distinct from what happened with the Grayscale BTC Trust (GBTC), which lost $350 million on the same day.
Bitcoin ETFs Rebound Impact
After going through an adverse period with a total loss of over $885 million the previous week, BTC ETFs have since gotten back on track. With this financial influx, there were clear changes in BTC market, and yesterday, the top cryptocurrency reclaimed the $71,000 mark. In addition, the daily trade volume of BTC saw a notable 26% rise.
The success of spot Bitcoin ETFs in the U.S. certainly has an effect on markets around the world, as other countries seek ways for their financial institutions to invest in BTC. Notably, the London Stock Exchange has said that it plans to sell Bitcoin and Ethereum exchange-traded notes (ETNs) starting May 28. People can start applying in April.
All of these changes are making the future look brighter for other crypto-based investment tools additionally. According to Grayscale CLO, Ethereum ETFs will be available shortly, presumably in May. This shows that there are further ways to trade in cryptocurrencies.
