Bitcoin ETF weekly inflows the largest since launch

1 min read

© Reuters. Bitcoin ETF weekly inflows the largest since launch – analyst

In a note covering cryptocurrency markets, JPMorgan said that ETF inflows were at their largest since the launch this week.

The investment bank estimates preliminary net sales of U.S. spot Bitcoin ETFs of ~$ $132 million on Thursday, March 14, the group’s 44th day of trading.

“Daily gross flows (excl. GBTC) were $389mn, a significant step down from the record >$1.1bn daily gross flows seen just a few days ago,” said analysts.

“Nonetheless, the group still reported the largest week of inflows since launch totaling ~$2.6bn of net sales (incl. GBTC) and $4.0bn of gross sales (excl. GBTC) for the 5 trading days ended March 14.”

The bank noted that Grayscale’s GBTC redemptions were -$257mn yesterday, while they also said BlackRock (NYSE:)’s IBIT accounted for nearly 90% of the gross flows recorded yesterday as “many other issuers saw significantly more muted flow.”

You May Also Like

More From Author

+ There are no comments

Add yours