{"id":217232,"date":"2024-03-26T19:09:09","date_gmt":"2024-03-26T19:09:09","guid":{"rendered":"https:\/\/michigandigitalnews.com\/index.php\/2024\/03\/26\/nasdaqs-bitcoin-etfs-break-five-day-outflow-streak-with-15-4m-boost\/"},"modified":"2025-06-25T17:19:53","modified_gmt":"2025-06-25T17:19:53","slug":"nasdaqs-bitcoin-etfs-break-five-day-outflow-streak-with-15-4m-boost","status":"publish","type":"post","link":"https:\/\/michigandigitalnews.com\/index.php\/2024\/03\/26\/nasdaqs-bitcoin-etfs-break-five-day-outflow-streak-with-15-4m-boost\/","title":{"rendered":"Nasdaq’s Bitcoin ETFs break five-day outflow streak with $15.4M boost"},"content":{"rendered":"

[ad_1]
\n
<\/p>\n

\n

On Monday, Nasdaq-traded spot Bitcoin (BTC) exchange-traded funds (ETFs) witnessed an inflow of $15.4 million, marking a positive shift after five consecutive days<\/a> of outflows, according to preliminary figures from investment company Farside.<\/a><\/p>\n

The inflow was predominantly led by Fidelity\u2019s FBTC, which garnered $261.8 million, and was closely followed by BlackRock\u2019s IBIT with a $35.5 million collection. Other ETFs such as BITB, BTCO, EZBC, and BRRR also saw inflows ranging from $11 million to $20 million. Contrarily, Grayscale\u2019s ETF (GBTC) experienced a substantial outflow, losing over $350 million.<\/p>\n

The previous week was challenging for these ETFs<\/a>, with a total outflow of $887.6 million, primarily due to significant withdrawals from GBTC.<\/p>\n

What are Bitcoin ETFs?<\/h2>\n

The launch of nearly a dozen spot ETFs in the U.S. on January 11 offered investors an opportunity to invest in Bitcoin without the complexities of direct ownership and storage. These funds directly invest in Bitcoin and avoid the necessity for position rollovers, distinguishing them from futures-based ETFs introduced in October 2021.<\/p>\n

The newfound accessibility to Bitcoin can also potentially boost Bitcoin\u2019s legitimacy and attract a broader investor base, potentially enhancing market liquidity and stability. Furthermore, it simplifies investing in Bitcoin through familiar stock exchange platforms and regulated environments, mitigating some security concerns and allowing tightly regulated institutions to partake in the market.<\/p>\n

Since the trading of spot ETFs commenced, the value of Bitcoin has surged by more than 50% to $70,750. On Monday, the price of Bitcoin experienced a more than 4% increase, momentarily exceeding $71,000.<\/p>\n

The development follows the recently approved U.S. spot Bitcoin ETFs<\/a> experiencing a day of record-breaking inflows exceeding $1 billion on Mar. 12.<\/a><\/p>\n

Featured image: Ideogram<\/strong><\/em><\/p>\n<\/p><\/div>\n

[ad_2]
\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

[ad_1] On Monday, Nasdaq-traded spot Bitcoin (BTC) exchange-traded funds (ETFs) witnessed an inflow of $15.4 million, marking a positive shift after five consecutive days of<\/p>\n","protected":false},"author":1,"featured_media":217233,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[152],"tags":[],"_links":{"self":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/217232"}],"collection":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/comments?post=217232"}],"version-history":[{"count":4,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/217232\/revisions"}],"predecessor-version":[{"id":333922,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/posts\/217232\/revisions\/333922"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media\/217233"}],"wp:attachment":[{"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/media?parent=217232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/categories?post=217232"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/michigandigitalnews.com\/index.php\/wp-json\/wp\/v2\/tags?post=217232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}