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In the pre-market trading today, BlackRock’s IBIT and Fidelity Wise’s FBTC, both prominent Spot Bitcoin ETFs, 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.
BlackRock & Fidelity BTC ETFs Surge
BlackRock’s iShares Bitcoin ETF (IBIT) saw a 2.60% increase to $41.79 during pre-market trading on Wednesday, March 13, according to Yahoo Finance 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: VanEck Bitcoin ETF Surpasses $200M Investment Amid Fee Waivers
Spot Bitcoin ETFs Mark Record-Breaking Inflows Of $1.05 Bln
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.
BlackRock’s iShares Bitcoin ETF 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: Bitcoin ETF: SEC Declares First Trust’s Application “Abandoned”
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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