Enterprise Information | Spot bitcoin ETFs hit file highs for weekly inflows and buying and selling quantity.

World Information | Spot bitcoin ETFs hit file highs for weekly inflows and buying and selling quantity.


Weekly internet inflows and buying and selling quantity for US spot bitcoin exchange-traded funds hit file ranges final week as bitcoin hit recent all-time highs earlier than retreating sharply.

Web inflows to 10 spot bitcoin ETFs reached $2.57 billion final week — up 15 p.c from the $2.24 billion value of inflows generated every week earlier. Bitmax Analysis and Farside Traders.

BlackRock’s IBIT continued its dominance, bringing in $2.48 billion in income. Constancy’s FBTC was second with $717.9 million and VanEck HODL was third with $247.8 million. Nevertheless, Grayscale’s transformed GBTC fund noticed $1.25 billion in outflows, whereas Invesco’s BTCO additionally contributed $29.4 million in outflows.

Whole internet inflows since spot bitcoin ETF buying and selling started on January 11 are actually simply over $12 billion.

“Whole internet inflows got here as boomers purchased an 8% in a single day selloff like no one’s enterprise in every week with internet inflows of $2.5 billion and $35 billion in quantity,” Bloomberg ETF analyst Eric Balchunas stated Saturday. (Each Data)” was considered.

Spot Bitcoin ETFs witness the biggest weekly buying and selling quantity.

Weekly buying and selling quantity for U.S. spot bitcoin ETFs additionally hit a file $35.1 billion final week amid volatility in bitcoin’s worth motion. Final week’s buying and selling quantity for ETFs was 15% greater than the $2.24 billion registered within the earlier week.

BlackRock’s IBIT ETF once more led the way in which, producing $16.17 billion in buying and selling quantity for the week. In keeping with The Block’s knowledge dashboard, Greyscale’s GBTC and Constancy’s FBTC generated $8.24 billion and $6.5 billion respectively in buying and selling quantity.

BlackRock’s Spot Bitcoin ETF is now approaching 50% market share by buying and selling quantity, at present at 47%. In the meantime, Grayscale’s high-fee GBTC fund has fallen from a 50.5% market share on January 11 to 23.1% as of Friday.

Mixture buying and selling quantity for all spot bitcoin ETFs is now $141.7 billion.

Bitcoin worth is retreating from recent all-time highs.

Bitcoin hit a recent excessive of $73,836 on Thursday earlier than a pointy selloff despatched the biggest cryptocurrency by market cap down 12 p.c to a low of $64,505 on Sunday. reached Bitcoin has since recovered barely, buying and selling at $67,718, based on TheBlock. Pricing web page

BTC/USD worth chart. Photograph: The Block/Tradingview.

The decline was additionally seen within the broader crypto market, with the GM30 index — which represents the highest 30 cryptocurrencies by market cap — falling 10% to a low of 146.52 from final week’s peak of 162.52. Nevertheless, the index has been up considerably for the reason that finish of final yr – at present buying and selling at 151.85.

Disclaimer: The Block is an impartial media outlet that gives information, analysis and knowledge. As of November 2023, Foresight Ventures is almost all investor in The Block. Foresight Ventures invests in different corporations within the crypto house. Crypto alternate Bitget is an anchor LP for Foresight Ventures. Block works independently to supply goal, efficient, and well timed details about the crypto trade. Listed here are our present monetary disclosures.

© 2023 The Block. All rights reserved. This text is offered for informational functions solely. It isn’t supplied or meant for use as authorized, tax, funding, monetary, or different recommendation.



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