BlackRock (IBIT) & Fidelity (FBTC) Bitcoin ETF Rally Amid Record $1.05 Bln Inflow
Highlights
- BlackRock and Fidelity Bitcoin ETFs surged in the pre-market trading session today.
- The gain can be attributed to the record influx of $1.05 billion into Spot Bitcoin ETFs on Tuesday.
- BlackRock accounted for a whopping $849 million inflows.
In the pre-market trading today, BlackRock’s IBIT and Fidelity Wise’s FBTC, both prominent Spot Bitcoin ETFs, surged notably following a strong influx of funds on Tuesday. This surge was mirrored by their main competitors, including Grayscale’s GBTC, VanEck’s HODL and Valkyrie’s BRRR.
BlackRock & Fidelity BTC ETFs Surge
BlackRock’s iShares Bitcoin ETF (IBIT) saw a 2.60% increase to $41.79 during pre-market trading on Wednesday, March 13, according to Yahoo Finance data. This rebound follows Tuesday’s closure at $40.73, reflecting a 0.95% decline. Moreover, the resurgence mainly attributed to a record high inflow of $849 million.
Whilst, Fidelity Wise’s FBTC soared 2.53% to $64.08 in pre-market trading. Moreover, Grayscale’s GBTC witnessed an 2.56% surge, reaching $65.30 at the time of reporting, recovering from a notable plunge on Tuesday, closing at $63.67 with a 1.01% loss.
The Ark 21Shares Bitcoin ETF (ARKB) recorded a 2.55% gain, hitting $73.22. Meanwhile, VanEck’s HODL saw an 2.17% rally to $82.71. Valkyrie’s BRRR also rose by 1.38%, reaching $20.55. Invesco Galaxy’s BTCO gained 2.60%, settling at $73.30.
Franklin Templeton’s EZBC experienced a notable uptick of 2.34%, reaching $42.45. In addition, Hashdex’s DEFI observed a 2.67% hike, reaching $84.74. Earlier, DEFI dropped to $82.54 on Tuesday, marking a 1.10% decline.
Also Read: VanEck Bitcoin ETF Surpasses $200M Investment Amid Fee Waivers
Spot Bitcoin ETFs Mark Record-Breaking Inflows Of $1.05 Bln
On March 12, data from SoSoValue revealed a remarkable net inflow of $1.05 billion into Spot BTC ETFs. This surge in inflow coincided with the second-highest volume day for the 10 Bitcoin ETFs, marking the best performance in the past five weeks with a total of $8.5 billion traded.
BlackRock’s iShares Bitcoin ETF experienced a record-breaking inflow of $849 million, surpassing its previous highest inflow. This influx propelled BlackRock’s net inflow to over $11.44 billion, while its asset holdings surged to $14.5 billion.
Meanwhile, the Fidelity Bitcoin ETF and Ark 21Shares (ARKB) BTC ETF attracted inflows of $51.6 million and $93 million, respectively. Other Spot BTC ETFs, including Bitwise’s BITB, saw relatively lower inflows. Whilst, the VanEck Bitcoin ETF experienced an inflow of $82.9 million, partly attributed to its 0% fees strategy amidst intensified competition.
Additionally, Grayscale’s GBTC recorded another outflow of $79 million. The drop in outflows is attributed to a decline in Genesis’ GBTC selloffs, which are nearing their conclusion. Crypto lender Genesis obtained bankruptcy court approval to sell 35 million GBTC shares valued at $1.3 billion. Notably, the net outflow from GBTC to date has surpassed $11.12 billion.
Also Read: Bitcoin ETF: SEC Declares First Trust’s Application “Abandoned”
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