GBTC - Record $648M Inflows To Bitcoin ETFs Coincide With All-Time Highs | Benzinga
Bitcoin's (CRYPTO: BTC) rise past the $69,000 mark to reach a new all-time high on Tuesday was accompanied by a significant influx of capital into Bitcoin spot Exchange-Traded Funds (ETFs), with a total net inflow of $648 million into these ETFs on March 5.
This surge in investment underscores the growing confidence among investors in Bitcoin's potential and the broader cryptocurrency market.
The standout performer in the ETF space was BlackRock's IBIT (NASDAQ: IBIT), which witnessed a record daily net inflow of $788 million, pushing its total historical net inflow to an impressive $9.167 billion.
This highlights the ETF's dominant position in the market and investors' preference for regulated investment vehicles to gain exposure to ...