Bitcoin ETF Inflows Make a Grand Return, or Is It Just a Temporary Fling?

by

Ah, the bittersweet drama of Bitcoin exchange-traded funds (ETFs)! On Thursday, a magnificent $165 million worth of fresh, eager inflows entered the scene, according to our ever-watchful friends at SoSoValue. A round of applause, please! 👏

It appears that, after a spell of heartbreak, these ETFs have witnessed five consecutive days of rejuvenation. Can it be that the institutional demand is, once again, whispering sweet nothings in Bitcoin’s ear? After a period of tragic outflows (and no, we’re not talking about your personal savings), it seems like hope may just be on the rise. You may recall that Bitcoin ETFs had, not too long ago, bled over $6 billion in a mere two months, thanks to global trade quarrels and recession nightmares. 🍿

And who do we have to thank for this wondrous turn of events? BlackRock’s iShares Bitcoin Trust ETF (IBIT), of course! It’s practically hoarding all the inflows, accounting for a substantial $172 million. Bravo, IBIT! 💸

Meanwhile, Fidelity Wise Origin Bitcoin Fund (FBTC) and Grayscale Bitcoin Trust ETF (GBTC) are also joining the party, albeit with more modest contributions—$9.19 million and $5.22 million, respectively. A nice, humble gathering, if you will. 🍾

But, ah, not all Bitcoin ETFs were basking in the glow of prosperity. No, no! Some of them felt the sting of loss. The Bitwise Bitcoin ETF (BITB) took the hardest hit, with a gory $17.4 million outflow. 😱 Even Grayscale’s GBTC had to endure a grim outflow of nearly $8 million. Let us pause for a moment of silence for their losses… 🎭

As for Bitcoin itself? Well, it’s still playing hard to get. The price remains as unenthusiastic as a cat at bath time, at $84,152. After a mild 2.1% dip in the last 24 hours, it seems that the cryptocurrency still prefers to keep its distance. 🐱💸

Read More

2025-03-21 09:41