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© Reuters. Weekly Bitcoin ETF Sees Largest Inflows Since Launch – Analyst
In a note on cryptocurrency markets, JPMorgan said ETF inflows this week reached the largest since launch.
The investment bank estimates preliminary net sales of U.S. spot Bitcoin ETFs at about $132 million on Thursday, March 14, the group’s 44th trading day.
“Daily gross inflows (excluding GBTC) were $389 million, a significant decline from the record high of more than $1.1 billion in daily gross inflows seen just days ago,” analysts said.
“Despite this, in the five trading days to March 14, the group still reported its biggest week of inflows since its inception, totaling net sales of around $2.6 billion (including GBTC) and gross sales of $4 .0 billion US dollars (excluding GBTC).”
The bank noted that Grayscale’s GBTC redemptions were -$257 million yesterday, while it also said BlackRock’s (NYSE:) IBIT accounted for nearly 90% of gross flows recorded yesterday, as “many others Issuers recorded a significantly more subdued flow of capital.”
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