Blackrock’s IBIT pumped a whopping $661 million into the 11 bitcoin ETFs yesterday taking the net inflow to $802 million.
The Bitcoin ETFs have witnessed a serious increase in inflows pulling in over $1 billion on Friday last week.
The trading days were disrupted on Monday by the Holidays in the United States. Martin Luther King Day and the Inauguration of Donald Trump took center stage on Monday with the markets closed for the day.
Trading on the spot Bitcoin ETFs returned with full force on Tuesday with the 11 Bitcoin ETFs pulling in $802 million.
Blackrock’s IBIT led the inflows for the day pulling in $661 million for the day. Grayscale’s BTC followed suit recording an inflow of $136 million.
Surprisingly Fidelity’s FBTC was displaced from the second place by Grayscale’s BTC for the first time in a long time.
The two inflows from IBIT and Grayscale’s BTC were the major inflows for the day.
The remaining inflows were minimal and were recorded on Ark ARKB, Fidelity’s FBTC, and Franklin’s EZBC.
The Three funds pulled in $8.5 million, $7.0 million, and $6.2 million respectively.
The only outflow for the day was recorded on Bitwise BITB which lost 17.4 million for the day.
The remaining Bitcoin ETFs recorded zero transactions on a day of increased trading activity by institutional investors.
Bitcoin Price Analysis
Bitcoin crossed its all-time high a few days ago hitting $108,786. At the time of the report, the Primary crypto asset is exchanging hands for $105,409 surging by 1.1% in the last 24 hours.
Speculation around the proposed launch of a Strategic Bitcoin Reserve by the Trump administration is getting louder as Key Opinion leaders expect it to happen within the first 100 days in office of the new president.
A Strategic Bitcoin reserve (SBR) by the United States will kickstart a ripple effect that will spread across various jurisdictions driving the demand and price of Bitcoin up.
