Featured News Headlines
US Bitcoin ETFs Pass $50 Billion in Net Inflows
Bitcoin ETFs – US spot Bitcoin exchange-traded funds (ETFs) have impressively crossed $50 billion in net inflows since their launch in January 2024. This rapid growth highlights strong investor confidence in Bitcoin ETFs as mainstream investment vehicles.
Leading the pack is BlackRock’s iShares Bitcoin Trust ETF (IBIT), which has attracted a staggering $53 billion in net inflows. Following behind is the Fidelity Wise Origin Bitcoin Fund (FBTC) with a solid $12.29 billion inflow. However, Grayscale Bitcoin Trust ETF (GBTC) is the exception, experiencing a net outflow of $23.34 billion, according to Farside Investors.
Dominance of IBIT and Overall Digital Asset Inflows
IBIT has established itself as the most dominant Bitcoin ETF, recently becoming the first to hold over 700,000 BTC, representing more than 55% of all BTC held by spot Bitcoin ETFs. This dominance has translated into substantial revenue for BlackRock, reportedly surpassing its flagship iShares Core S&P 500 ETF.
Meanwhile, digital asset products collectively attracted $18.96 billion in net inflows this year, with Bitcoin accounting for 83% and Ethereum 16%, as reported by CoinShares.
Growing Corporate Demand for Bitcoin
Corporate interest in Bitcoin is also on the rise. Japan’s Metaplanet made headlines by acquiring BTC worth $237 million, becoming the fifth-largest corporate holder with over 15,500 BTC. Additionally, European firms like France’s The Blockchain Group and the UK’s Smarter Web Company added Bitcoin valued at $12.5 million and $24.3 million, respectively.
Japanese company Remixpoint announced a $215 million fundraise aiming to accumulate 3,000 BTC soon.
Bitcoin Hits New ATH While Ethereum Surges
On Wednesday, Bitcoin reached a new all-time high of $112,000, triggering nearly $200 million in short liquidations. Meanwhile, Ethereum (ETH) showed strength with a 6.6% price surge in 24 hours, currently trading at $2,778, and analysts expect it to cross $3,000 soon.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
