Despite the temporary decline in popularity of ETFs, overall market sentiment remains positive, with investors recognizing Bitcoin’s potential as a valuable asset.
Exchange Traded Funds (ETF) of Spot Bitcoin experienced net inflows this Monday, thus breaking a streak of five consecutive days of outflows. According to data from SoSo Value, these instruments recorded a net inflow of US$15.7 million.
This reversal follows a series of single-day outflows last week, as Ámbito reported, with the largest outflows on March 19 and March 20 for US$326 million and US$262 million leaving the funds, respectively.
However, the pace of net outflows gradually slowed down later in the weekwith US$94 million withdrawn on Thursday and US$52 million on Friday.
Fund by Fund: entries to ETFs
Fidelity leads spot Bitcoin ETF net inflows among major market players, Fidelity’s FBTC stood out with the largest single-day net inflow of approximately $261 millionas reported by SoSo Value.
YoBlackRock’s BIT also performed well, witnessing an entry of approximately US$35.5 million. However, Grayscale’s GBTC saw a single-day net outflow of $350 million.
The fervor around spot Bitcoin ETFs has been waning in recent days, compared to the initial excitement that accompanied their market debut.
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In the last two weeksBitcoin Spot ETF Assets Under Managementexcluding GBTC, have stabilized at around US$30.62 billion.
The recent net inflow into Bitcoin spot ETFs indicates renewed investor interest and confidence in these investment vehicles. Despite the temporary decline in popularity, Overall market sentiment remains positive, with investors recognizing Bitcoin’s potential as a valuable asset.
Source: Ambito
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