BlackRock Bitcoin ETF brings in 900 billion won daily…Signal of investor trust recovery

Bitcoin Spot ETF with 2.3 Billion Dollars Inflow Over 4 Days (Source: Sosovalue)

Investor interest in Bitcoin Spot Exchange Traded Fund (ETF) in the United States is heating up again. On the 24th (local time), blockchain specialized media The Block reported that BlackRock's IBIT, the largest Bitcoin ETF by net asset standards, saw an inflow of 643 million dollars (about 920 billion won) in one day.

The total net inflow of Bitcoin ETFs on this day amounted to 916.9 million dollars, recording the largest scale since January 21st. During the four consecutive days of inflows, more than 2.3 billion dollars entered Bitcoin ETFs, far surpassing the 1 billion dollars during the 10-day consecutive inflow period last month.

By ETF, BlackRock's IBIT stood out, with ARKB, launched together by Ark Invest and 21Shares, receiving 129.5 million dollars, and Fidelity's FBTC receiving 124.37 million dollars respectively. Additionally, Grayscale's BTC received 29.84 million dollars, VanEck's HODL received 5.28 million dollars, while 15.25 million dollars flowed out of Bitwise's BITB.

Nick Lux, Research Director at LVRG, analyzed that "The inflow of funds into ETFs shows that trust in Bitcoin as a store of value is rising again" and that "This trend is likely to resemble gold for the time being."

On the other hand, Ethereum-related ETFs are still showing unstable signs. After a recent short inflow, Ether ETFs turned into a net outflow, with 23.88 million dollars flowing out in one day. Only from BlackRock's ETHA, 30.28 million dollars flowed out, and Grayscale's ETH received 6.4 million dollars, mitigating some losses but not enough to change the overall mood.

The total trading volume of Ether ETFs remained at 432.87 million dollars, with total net assets at the level of 5.93 billion dollars. While Bitcoin ETFs are clearly taking the lead in the market, Ethereum ETFs continue to struggle without finding direction.