By: Eliza Bennet
Data unveiled from top crypto firms indicates a significant surge in Bitcoin (BTC) ETFs net inflows on March 27, aggregating a substantial figure of $243.4 million, equivalent to 3,534.7 BTC. Pioneering this drive was BlackRock’s IBIT, which registered a net inflow of $323.8 million, or 4,701.5 BTC. This inflow took its total net inflow to an astounding $13,862.7 billion, equivalent to 250,787 BTC, marking the largest inflow BlackRock has observed in a week which goes beyond ten times than its smallest inflow the preceding week.
Investors have been particularly patronizing Ark Investment Management with its ArkB recording a historic day. This particular swing raked in $200.7 million in net inflows, corresponding to 2,915.2 BTC, thereby elevating its total net inflows to $2,276.7 billion which is equivalent to 44,086 BTC. On the other end of the spectrum, the Grayscale Bitcoin Trust (GBTC) persistently experienced outflows, having $299.8 million, or 4,354.2 BTC, exited the fund. This resulted to total net outflows totaling a disquieting $14,662.8 billion, equivalent to 282,454 BTC.
There were mix fortunes amongst funds, with Fidelity’s FBTC experiencing a scarce inflow of simply $1.5 million, tallying to 21.8 BTC. However, this minute contribution drove total net inflows to a prominent $7,494.0 billion, equivalent to 140,905 BTC. Meanwhile, notwithstanding the withdrawals from GBTC, the aggregate net inflows into Bitcoin ETFs attained $11,942.6 billion, akin to 210,264 BTC. Overall, this development underscores the growing acceptance and confidence investors have towards digital currencies, particularly Bitcoin.