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ARK Sparks Bitcoin ETF Frenzy: $133 Million Record Inflow in 24 Hours!

Thu 16 May 2024 ▪ 3 min of reading ▪ by Fenelon L.
Event

The ARK 21Shares Bitcoin ETF recorded a massive inflow of $133.1 million on Monday, marking the highest entry ever recorded for a U.S. spot Bitcoin ETF since March. This success erases the disappointments of previous weeks and testifies to the renewed interest of investors in these innovative products.

Le Bitcoin EtTF de ARK en feu

A renewed interest in spot Bitcoin ETFs

The U.S. spot Bitcoin ETF market continues its momentum, showing significant entries at the beginning of the week. After three consecutive days of outflows last week, investors have once again shown their appetite for these innovative instruments.

According to data from Farside Investors, nearly $170 million has been injected into U.S. spot Bitcoin ETFs over the first two days of the week, with the ARK 21Shares Bitcoin ETF leading the entries with $133.1 million.

On May 14 alone, U.S. spot Bitcoin ETFs recorded an inflow of $100.5 million, more than offsetting the $50.9 million outflow from Grayscale’s GBTC. This renewed interest confirms the renewed confidence of investors in these products launched just a few months ago.

Despite the massive inflows into the ETFs reflecting positive sentiment, the price of Bitcoin remained relatively stable, trading around $62,000 on May 15, with volume slightly down 15% to $24.65 million. This price resilience is notable in an uncertain economic context, marked by persistent concerns about inflation.

Institutional adoption is accelerating

The success of spot Bitcoin ETFs is part of a deeper trend: the growing interest of institutional investors in crypto assets. As we mentioned earlier, many financial giants, from JP Morgan to the Bank of Montreal to Wells Fargo, have recently unveiled significant positions in various Bitcoin ETFs.

This rush of institutions into crypto ETFs marks a profound change in perception. Bitcoin, long viewed with suspicion, is becoming a mainstream financial asset. Experts anticipate an acceleration of this movement with the arrival of long-term investors such as sovereign wealth funds.

In conclusion, the spot ETF rally continues, driven by renewed investor confidence. Despite a complex economic environment, the cryptocurrency market is showing resilience. The growing adoption of Bitcoin ETFs by traditional financial institutions confirms the changing status of this innovative asset class, paving the way for a new era of digital finance.

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Fenelon L. avatar
Fenelon L.

Passionné par le Bitcoin, j'aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l'outil qui peut rendre cela possible.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.