Bitcoin ETFs See Increased Inflows as BTC Price Surges
On Tuesday, Bitcoin exchange-traded funds (ETFs) attracted a total of $187 million worth of inflows.
Fidelity Wise Origin Bitcoin Fund (FBTC) is in the lead by inflows with $56.6 million. Bitwise Bitcoin ETF (BITB) comes in second place with $42.2 million. VanEck Bitcoin ETF (HODL) is also in the top 3 with $3.2 million worth of inflows.
Eight months after its launch, BlackRock’s iShares Bitcoin ETF now holds more than $21 billion worth of Bitcoin.
Notably, BlackRock’s IBIT logged zero flows on Tuesday despite the fact that some of its competitors recorded decent figures. BlackRock has been dominating the Bitcoin ETF race since these products made their stunning debut in January. However, its recent underperformance has some cryptocurrency analysts scratching their heads.
Notably, Grayscale’s GBTC also recorded zero flows yesterday. The product has accounted for the vast majority of outflows recorded by Bitcoin ETFs since its launch.
Bitcoin’s impressive inflows coincided with the bulls reclaiming the make-it-or-break-it $60,000 level. The leading cryptocurrency is currently changing hands at $60,257, according to CoinGecko data.
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