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17/03/26 12:14 UTC-04

Bitcoin exchange-traded funds record a sixth consecutive day of capital inflows

Spot Bitcoin exchange-traded funds have recorded inflows for the sixth consecutive trading session. From March 9 to March 17, investors allocated $962.8 million into $BTC ETFs, according to data from Farside Investors.

In the past 24 hours alone, Bitcoin ETFs saw $199.4 million in inflows. The leader was BlackRock’s iShares Bitcoin Trust (IBIT) with $139.4 million, followed by Fidelity Wise Origin Bitcoin Fund (FBTC) with $64.5 million. Bitwise Bitcoin ETF and Franklin Bitcoin ETF added $2.8 million and $2.1 million, respectively. Only two funds recorded outflows: VanEck Bitcoin ETF and ARK 21Shares Bitcoin ETF, with $6.3 million and $3.1 million withdrawn, respectively.

Over these six days, Bitcoin rose by 12.5%, from $65,960 to $74,250. The leading cryptocurrency is now trading above $73,000 with a market capitalization of $1.4 trillion. Daily Bitcoin trading volume increased by 23% to $54.72 billion.

Analysts from Santiment explained the inflows into these ETFs by improving trader sentiment, influenced by the FOMO (Fear of Missing Out) effect. Despite uncertainty surrounding military tensions in the Middle East, traders saw growth potential for Bitcoin in the coming weeks and months, according to Santiment experts.

The past six days represent the longest uninterrupted inflow streak into $BTC ETFs since October last year. However, the current volume still falls short of the record nine-day streak recorded in autumn, when Bitcoin ETFs attracted nearly $6 billion, and Bitcoin reached an all-time high of $126,080.

In February, Italy’s largest bank Intesa Sanpaolo disclosed its investments in crypto ETFs. As of December 31, the bank had invested $72.6 million in ARK 21Shares Bitcoin ETF and $23.4 million in iShares Bitcoin Trust.

See also: "Investors added $619 million to crypto funds amid volatility around Iran"

#Bitcoin (BTC) #Spot #capital inflows

Editor: Alyona Nabok
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