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Bitcoin ETFs Pull in $975 Million, the Highest Inflow in Two Weeks
The 11-spot Bitcoin ETFs witnessed a significant surge in investment inflows on Friday, recording an astonishing sum of nearly $1 billion. This influx of capital has been labeled as the highest recorded in two weeks, cementing its place among the largest single-day inflows this year.
Data released by Farside Investors indicates that the majority of these funds went into Blackrock’s IBIT, which pulled in a staggering $375.9 million. In a distant second and third position were Fidelity’s FETH and Bitwise BITB, respectively, with inflows of $326.3 million and $208 million.
On the other end of the spectrum, Grayscale’s BTC, Grayscale GBTC, and VanEck HODL saw significantly less investment, with inflows of $21.8 million, $20.8 million, and $19.1 million, respectively. The two least-inflated ETFs for the day were Investco BTCO and Wisdom Tree BTCW, which recorded investments of $6.3 million and $4.5 million, respectively.
The notable increase in investor activity is not surprising given Bitcoin’s remarkable performance in recent times. In fact, the cryptocurrency broke its all-time high today after surging past the previous record. At the time of this report, Bitcoin is trading at $107,266, representing a staggering 2% increase over the last 24 hours and an astonishing 18.9% rise on a seven-day scale.
Furthermore, it has been reported that there are rumors circulating about Donald Trump’s potential announcement of a strategic Bitcoin reserve during his inauguration today. Online Prediction Site has given this event a 60% probability of occurring, citing their accuracy in predicting the outcome of the election last year with an impressive 93% accuracy rate.
As the market continues to experience unprecedented growth and volatility, it remains to be seen how these ETFs will perform moving forward. However, one thing is certain: the appetite for Bitcoin investment has reached new heights, as demonstrated by this historic inflow into the ETFs.
Source: www.crypto-news.net
