HODL

Bitcoin ETF

Spot

BlackRock

In the pre-market trading today, BlackRock’s IBIT and Fidelity Wise’s FBTC, both prominent <a href="https://coingape.com/bitwise-cio-expects-morgan-stanley-wells-fargo-to-join-bitcoin-etf-frenzy-soon/" target="_blank" rel="noopener noreferrer nofollow">Spot Bitcoin ETFs</a>, surged notably following a strong influx of funds on Tuesday. This surge was mirrored by their main competitors, including Grayscale’s GBTC, VanEck’s HODL and Valkyrie’s BRRR.
<h2 id="blackrock-fidelity-btc-etfs-surge">BlackRock &amp; Fidelity BTC ETFs Surge</h2>
BlackRock’s iShares Bitcoin ETF (IBIT) saw a 2.60% increase to $41.79 during pre-market trading on Wednesday, March 13, according to <a rel="noopener noreferrer nofollow" href="https://finance.yahoo.com/quote/IBIT/" target="_blank">Yahoo Finance</a> data. This rebound follows Tuesday’s closure at $40.73, reflecting a 0.95% decline. Moreover, the resurgence mainly attributed to a record high inflow of $849 million.
Whilst, Fidelity Wise’s FBTC soared 2.53% to $64.08 in pre-market trading. Moreover, Grayscale’s GBTC witnessed an 2.56% surge, reaching $65.30 at the time of reporting, recovering from a notable plunge on Tuesday, closing at $63.67 with a 1.01% loss.
The Ark 21Shares Bitcoin ETF (ARKB) recorded a 2.55% gain, hitting $73.22. Meanwhile, VanEck’s HODL saw an 2.17% rally to $82.71. Valkyrie’s BRRR also rose by 1.38%, reaching $20.55. Invesco Galaxy’s BTCO gained 2.60%, settling at $73.30.
Franklin Templeton’s EZBC experienced a notable uptick of 2.34%, reaching $42.45. In addition, Hashdex’s DEFI observed a 2.67% hike, reaching $84.74. Earlier, DEFI dropped to $82.54 on Tuesday, marking a 1.10% decline.
Also Read:&nbsp;<a href="https://coingape.com/vaneck-bitcoin-etf-surpasses-200m-investment-amid-fee-waivers/" target="_blank" rel="noopener noreferrer nofollow">VanEck Bitcoin ETF Surpasses $200M Investment Amid Fee Waivers</a>
<h2 id="spot-bitcoin-etfs-mark-record-breaking-inflows-of-1-05-bln">Spot Bitcoin ETFs Mark Record-Breaking Inflows Of $1.05 Bln</h2>
On March 12, data from SoSoValue revealed a remarkable net inflow of $1.05 billion into Spot BTC ETFs. This surge in inflow coincided with the second-highest volume day for the 10 Bitcoin ETFs, marking the best performance in the past five weeks with a total of $8.5 billion traded.
<a href="https://coingape.com/bitcoin-price-spot-bitcoin-etf-saw-record-net-inflow-1-05-billion/" target="_blank" rel="noopener noreferrer nofollow">BlackRock’s iShares Bitcoin ETF</a> experienced a record-breaking inflow of $849 million, surpassing its previous highest inflow. This influx propelled BlackRock’s net inflow to over $11.44 billion, while its asset holdings surged to $14.5 billion.
Meanwhile, the Fidelity Bitcoin ETF and Ark 21Shares (ARKB) BTC ETF attracted inflows of $51.6 million and $93 million, respectively. Other Spot BTC ETFs, including Bitwise’s BITB, saw relatively lower inflows. Whilst, the VanEck Bitcoin ETF experienced an inflow of $82.9 million, partly attributed to its 0% fees strategy amidst intensified competition.
Additionally, Grayscale’s GBTC recorded another outflow of $79 million. The drop in outflows is attributed to a decline in Genesis’ GBTC selloffs, which are nearing their conclusion. Crypto lender Genesis obtained bankruptcy court approval to sell 35 million GBTC shares valued at $1.3 billion. Notably, the net outflow from GBTC to date has surpassed $11.12 billion.
Also Read:&nbsp;<a href="https://coingape.com/bitcoin-etf-sec-declares-first-trusts-application-abandoned/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin ETF: SEC Declares First Trust’s Application “Abandoned”</a>
The post <a href="https://coingape.com/blackrock-ibit-fidelity-fbtc-bitcoin-etf-rally-amid-record-1-05-bln-inflow/" rel="noopener noreferrer nofollow">BlackRock (IBIT) &amp; Fidelity (FBTC) Bitcoin ETF Rally Amid Record $1.05 Bln Inflow</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

BlackRock (IBIT) & Fidelity (FBTC) Bitcoin ETF Rally Amid Record $1.05 Bln Inflow

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