Bitcoin ETFs See $84.2 Million Inflow on March 24, Continuing Bullish Trend
1min read On Monday, the financial markets witnessed a significant inflow of capital into Bitcoin ETFs, with FBTC leading the charge. This positive trend marks a continuation of the bullish momentum that has been building over the past week, despite an early March downturn. The inflows into Bitcoin ETFs have been consistent, with seven straight days of positive flows as of March 24.
Ask Aime: What's behind the recent surge in Bitcoin ETF investments?
On March 21, ibit was the standout performer, attracting $105 million in new capital, which was its second-largest single-day intake for the week. In contrast, btcw recorded an outflow of $21.9 million, the only negative figure among the ETFs that day. All other ETFs, including FBTC, BITB, arkb, BTCO, ezbc, BRRR, hodl, GBTC, and BTC, saw no change in their capital flows. The net inflow for the day was $83.1 million.
On March 24, FBTC continued its strong performance with an inflow of $82.9 million, followed by BITB with $19.2 million and iBIT with $18.1 million. However, ARKB saw an outflow of $41 million, which tempered the overall inflow. BTCW added a modest $5 million, while the other ETFs remained flat. The net inflow for March 24 was $84.2 million, continuing the positive trend observed earlier in the week.
Throughout the week, iBIT saw consistently strong inflows, peaking at $218 million on March 18. These inflows were occasionally offset by outflows from ARKB and BTCW. Despite these fluctuations, the overall weekly picture remained positive, culminating in a net inflow of $83.1 million on March 21. The $84.2 million inflow on March 24 further solidified the bullish momentum in the market.
This sustained inflow into Bitcoin ETFs indicates a growing investor confidence in the cryptocurrency market. The consistent positive flows, despite occasional outflows from specific ETFs, suggest that investors are increasingly viewing Bitcoin as a viable investment option. The leadership of FBTC in the inflows on March 24 further underscores its position as a key player in the Bitcoin ETF landscape.
Looking ahead, the continued positive inflows into Bitcoin ETFs bode well for the cryptocurrency market. The sustained interest from investors, as evidenced by the inflows, could drive further growth and stability in the market. However, it is important to note that the market remains dynamic, and fluctuations in capital flows are to be expected. Investors will need to remain vigilant and adapt to changing market conditions to capitalize on the opportunities presented by the Bitcoin ETFs.
