Bitcoin ETFs Surge Back: Fidelity and BlackRock Lead the Way

Bitcoin ETFs attracted $15.7 million in net inflows on Monday, signaling a reversal from a recent trend of outflows. Fidelity's Bitcoin ETF (FBTC) led the surge with a $261 million inflow, followed by BlackRock's IBIT with $35.4 million.

Are Bitcoin ETFs Roaring Back Into Favor?

On Monday, Bitcoin ETFs experienced a remarkable reversal of fortune, with a net inflow of $15.7 million, putting an end to a five-day outflow streak.

Fidelity and BlackRock Lead the Charge

Fidelity's Bitcoin ETF (FBTC) stole the show with a hefty net inflow of $261 million in a single day. BlackRock's Bitcoin ETF (IBIT) followed suit with a significant net inflow of $35.4 million.

Grayscale: On the Outflow Side

In stark contrast to the ETF inflows, Grayscale Bitcoin Trust (GBTC) saw a substantial net outflow of $350 million on the same day.

Bitcoin's Bounce: ETF Flows a Factor?

The turnaround for Bitcoin ETFs follows a rough week, with over $885 million in net outflows. However, the latest inflows may have played a role in Bitcoin's surge back to $71,000 yesterday, with daily trading volume rising by 26%.

International Ripple Effects: ETFs on the Horizon?

The success of U.S. spot Bitcoin ETFs is having a ripple effect, with other countries exploring similar institutional exposure options. The London Stock Exchange is set to list Bitcoin and Ethereum exchange-traded notes (ETNs) from May 28, with applications opening in April.

Diversification Opportunity: Ethereum ETFs Loom

The future looks bright for crypto investment vehicles. Grayscale CLO anticipates the launch of Ethereum ETFs by May, expanding investment options for those seeking exposure to the Ethereum ecosystem.