The 11 Bitcoin ETFs continued a trend of heavy positive inflows on Friday. The ETFs pulled in $318 million for the day a slight reduction from the $588 million inflow it recorded on Thursday.
The Bitcoin ETFs have recorded only one day of net outflow in thirteen trading days.
This highlights strong investor activity and growing demand for Bitcoin.
Farside Investors UK revealed that Blackrock’s IBIT led the inflows for the day recording an inflow of $363 million.
Ark 21 shares ARKB followed suit with an inflow of $35.6 million. VanEck’s Hodl pulled in $5.8 million, the least inflow for the day.
Bitwise BITB recorded the biggest outflow for the day losing $56 million while Grayscale’s GBTC lost $30.6 million.
Bitcoin ETFs pulled in half a billion on Thursday, one of the biggest inflows in days.
The Bitcoin ETFs launched in January 2024 have attracted significant institutional inflow into the crypto market paving the way for the launch of Ethereum ETFs later in the year.
This year, reputable asset managers are lining up to file for ETF products of various crypto assets.
Grayscale applied XRP and Dogecoin ETF while the ETF application for Litecoin is already in the works.
The new administration in the SEC is expected to be Pro Crypto and asset managers and crypto founders are capitalizing on this fact to launch products.
Bitcoin at the time of the report is exchanging hands for $102,271 dropping by 2.5% in the last 24 hours.
