Bitcoin spot ETFs record $1 billion in net inflows in 24 hours : ETFs Spot BTC set a new record, recording net incoming volume of over $1 billion, helping the Bitcoin price climb to new heights. This record underlines the accelerating adoption of Bitcoin and its ETFs.

Bitcoin spot ETF adoption shows no signs of stopping

On Tuesday March 12, 2024, the Bitcoin spot ETFs experienced their busiest day since their approval last January, recording over $1 billion in net incoming volume, equivalent to 14,706 Bitcoins.

The accumulation of such a volume of entries probably contributed to the rise in the Bitcoin price, which reached a new all-time high now set at 73,650 dollars and 67,437 euros.

February 28, 2024 was the best-performing day for ETFs to date, with $673 million in net inflows. This new record represents an increase of around 60% in net inflows.

Since their launch, Bitcoin cash ETFs have seen net inflows of $10.32 billion. This accounts for over 4% of Bitcoins in circulation.

Interestingly, as the Bitcoin price rises, the amount of new BTC accumulated daily by the various ETFs falls proportionately.

On their launch day, spot Bitcoin ETFs recorded $655 million in net inflows. This equated to a total of 14,193 BTC. The amount of Bitcoins accumulated yesterday, though a record in dollar terms, still matched the total from launch day. But thanks to the rise in the BTC price, the dollar amount is much higher.

Source : Dune