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The cryptocurrency sector witnessed a groundbreaking moment as Bitcoin ETFs (Exchange-Traded Funds) experienced a surge in investments, breaking previous records. On the 12th of March, the net inflows into Bitcoin ETFs soared beyond $1 billion, marking a significant milestone in investor confidence towards Bitcoin. This surge was highlighted by Blackrock’s IBIT product amassing an impressive 200,000 BTC in assets and recording an $849 million inflow, which translates to an unparalleled 14,706 BTC in a single day.
Since January 11, 2024, the total net inflows into Bitcoin ETFs have reached an astounding $4.1 billion. In a significant shift witnessed yesterday, spot Bitcoin ETFs now command over 90% of the daily trading volume market share for ETFs offering Bitcoin exposure, attaining an all-time high. This development has relegated Bitcoin futures ETFs to just a 10% market share, further emphasizing the growing preference for direct Bitcoin investments. Reflecting a burgeoning confidence in Bitcoin as a key player in the investment domain, this shift heralds a new era for cryptocurrency investments.
