BTC Hits $73K, Spot Bitcoin ETF Sees Record $1.05B Inflow

The spot Bitcoin ETF in the US witnessed a historic single-day net inflow of $1.05 billion, leading to BTC recovery and a new ATH of $73k.

Spot Bitcoin ETF set a new record with the most significant single-day net inflow since the introduction of Bitcoin ETFs in the United States.

After experiencing a fall due to higher CPI inflation statistics, Bitcoin recovered and reached a new all-time high of $73,000 thanks to the record net inflow of more than one billion dollars.

Spot Bitcoin ETF Records $1.05 Billion New Inflow

SoSoValue provided information that exchange-traded funds (ETF) investing in spot Bitcoin ETF experienced a net inflow of $1.05 billion in March 2012.

The Following day saw the second-highest activity for the 10 spot Bitcoin ETF, a significant inflow occurred. With a total of $8.5 billion, it was, in fact, the best day in the previous five weeks.

There are just five stocks that have had trade volumes that are larger than $8.5 billion, according to Eric Balchunas, a senior ETF analyst at Bloomberg.

Investors have shown significant demand for other exchange-traded funds (ETFs), with BlackRock’s iShares Bitcoin ETF (IBIT) recording almost $4 billion in volume, VanEck Bitcoin Trust ETF (HODL) recording $150 million, and Invesco Galaxy Bitcoin ETF (BTCO) recording $250 million.

VanEck recently reduced its fees for managing its Bitcoin exchange-traded fund (ETF) to zero percent for the next twelve months. The iShares Bitcoin ETF (IBIT) offered by BlackRock received inflows of $849 million, breaking records for the most significant inflows ever recorded.

After the most recent inflow, BlackRock’s net inflow reached more than $11.44 billion, and the company’s asset holdings increased to more than $14.5 billion.

Specifically, the Fidelity Bitcoin ETF (FBTC) and the Ark 21Shares (ARKB) Bitcoin ETF experienced inflows of $51.6 million and $93 million, respectively.

Inflows into Bitwise (BITB) and other spot Bitcoin ETF were only slightly low. Despite increased competition, the VanEck Bitcoin ETF (HODL) recorded an asset increase of $82.9 million due to its 0% fees.

Furthermore, Genesis’ GBTC selloffs have reached their conclusion, as evidenced by the fact that GBTC registered yet another outflow of $79 million, a positively received decrease.

The bankruptcy court granted Genesis, a cryptocurrency lender, permission to sell 35 million GBTC shares valued at $1.3 billion. To date, the net outflow of GBTC has reached more than $11.12 billion, which is noteworthy.

In the previous 24 hours, the price of Bitcoin (BTC) has increased by more than 2%, reaching an all-time high. The price currently trades at $73,067. The low for 24 hours is $68,728, and the high for the same period is $73,182.

In addition, the volume of trading has increased marginally over the past 24 hours, which indicates an increase in interest among traders.

According to data provided by Coinglass, open interests (OI) in Bitcoin futures and options remain at record levels. The total OI in futures has increased by over three percent, reaching $36.97 billion.

It has reached a fresh record high of $11.47 billion for the CME Bitcoin futures OI. Despite high funding rates driving a general trend toward consolidation, the prediction of Bitcoin reaching $100,000 remains unchanged.