{"id":73648,"date":"2024-03-14T04:04:58","date_gmt":"2024-03-14T08:04:58","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=73648"},"modified":"2024-03-14T04:05:45","modified_gmt":"2024-03-14T08:05:45","slug":"blackrock-fidelity-receive-870m-bitcoin-etf-inflow","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/blackrock-fidelity-receive-870m-bitcoin-etf-inflow\/","title":{"rendered":"BlackRock &\u00a0Fidelity Receive $870M Bitcoin ETF Inflow"},"content":{"rendered":"\n

BlackRock and Fidelity Bitcoin ETFs received inflows of approximately $870 million in response to the substantial increase in BTC's price<\/a>.<\/p>\n\n\n\n

\"BlackRock<\/figure>\n\n\n\n

On March 13, 2024, the U.S. Bitcoin ETF market experienced a substantial increase in inflows, with Fidelity's FBTC and BlackRock's IBIT taking the lead with a combined value of almost $870 million.<\/p>\n\n\n\n

Significantly, amid this surge, the U.S. Bitcoin ETF experienced a considerable inflow of approximately $700 million, indicative of the institutional participants' intense interest.<\/p>\n\n\n\n

Notably, several market analysts have ascribed the recent substantial inflow into the U.S. Spot Bitcoin ETF to the recent upswing in Bitcoin price.<\/p>\n\n\n\n

BlackRock & Fidelity Bitcoin ETFs Lead Inflows<\/h2>\n\n\n\n

As per Farside Investors report\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>,\u00a0the U.S. Spot Bitcoin ETF received an inflow of $684.7 million on Wednesday,\u00a0March 13.<\/p>\n\n\n\n

Moreover, the ongoing substantial influx this week, particularly in light of Bitcoin's unparalleled upswing, indicates the considerable attention that Wall Street participants are paying to the leading cryptocurrency.<\/p>\n\n\n\n

In the Bitcoin ETF contest, BlackRock's IBIT and Fidelity's FBTC emerged as frontrunners, attracting a combined influx of approximately $870 million.<\/p>\n\n\n\n

On Wednesday, BlackRock's IBIT experienced a substantial inflow of $586.5 million, whereas Fidelity's FBTC recorded a remarkable influx of $281.5 million.<\/p>\n\n\n\n

However, there was a decrease in the inflow of funds into the VanEck Bitcoin ETF (HODL)<\/a>, which decreased from $82.9 million the day before to $16.5 million.<\/p>\n\n\n\n

Nevertheless, VanEck experienced a significant influx of more than $200 million during the initial two days of the week after\u00a0it was determined to waive fees, reducing them from 0.20% to 0%, on the initial $1.5 billion in assets until March 2025.<\/p>\n\n\n\n

On the other hand, Grayscale's Bitcoin ETF (GBTC) witnessed a resurgence in outflows, amounting to $276.5 million, following a decrease to $79 million in outflows the previous day.<\/p>\n\n\n\n

\"BlackRock
Source: Farside Investors<\/figcaption><\/figure>\n\n\n\n

Bitcoin Price Soars Amid Market Optimism<\/h2>\n\n\n\n

Achieving its highest single-day net inflow since its inception on March 12, the U.S. Spot Bitcoin ETF also reached a remarkable milestone.<\/p>\n\n\n\n

On March 12, the 10 Bitcoin ETFs saw their second-highest volume day, aggregating $8.5 billion, which contributed to a net inflow of $1.05 billion into U.S. Spot Bitcoin ETFs<\/a>, as previously reported.<\/p>\n\n\n\n

Meanwhile, these occurrences coincide with a fresh peak in Bitcoin's price, thereby emphasizing the increasing scrutiny of the cryptocurrency market by participants on Wall Street.<\/p>\n\n\n\n

Analysts ascribe the recent upswing in Bitcoin price to the surge in ETF inflows, which indicates increased institutional interest in digital assets.<\/p>\n\n\n\n

The Bitcoin price increased 1.35% to $73,123.31 at the time of writing, while its trading volume decreased 20.3% from yesterday to $48.36 billion.<\/p>\n\n\n\n

However, the cryptocurrency has experienced its highest point of $73,641.04 today, after falling to $71,720.18 within the last 24 hours.<\/p>\n\n\n\n

\"BlackRock
Bitcoin Price Chart<\/figcaption><\/figure>\n\n\n\n

Notably, the BTC price had increased by nearly 50% over the last 30 days at the time of writing, with a weekly increase of approximately 11%.<\/p>\n","protected":false},"excerpt":{"rendered":"

BlackRock and Fidelity Bitcoin ETFs received inflows of approximately $870 million in response to the substantial increase in BTC’s price. On March 13, 2024, the U.S. Bitcoin ETF market experienced a substantial increase in inflows, with Fidelity’s FBTC and BlackRock’s IBIT taking the lead with a combined value of almost $870 million. Significantly, amid this surge, […]<\/p>\n","protected":false},"author":56,"featured_media":73654,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21,83],"tags":[17807,1613,18741,17840],"class_list":["post-73648","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-bitcoin-news","tag-bitcoin-btc-price","tag-bitcoin-etf","tag-blackrock-bitcoin-etf","tag-fidelity-bitcoin-etf"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/03\/downloaded_image-28.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/73648","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=73648"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/73648\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/73654"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=73648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=73648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=73648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}