© Reuters. Bitcoin ETF Weekly Inflows Highest Since Launch: Analyst
In a note covering cryptocurrency markets, JPMorgan said ETF inflows were the largest since their launch this week.
The investment bank estimates preliminary US spot Bitcoin ETF net sales of ~$132 million on Thursday, March 14, the group's 44th day of trading.
“Daily gross flows (excluding GBTC) were $389 million, a significant step below the record of >$1.1 billion daily gross flows seen just a few days ago,” the analysts said.
“Nevertheless, the group still reported its biggest week of admissions since its launch totaling ~$2.6 billion in net sales (including GBTC) and $4 billion in gross sales (excluding GBTC) for the 5 business days that ended on March 14.”
The bank noted that Grayscale's GBTC redemptions were -$257 million yesterday, while it also said that BlackRock's (NYSE:) IBIT accounted for almost 90% of gross flows recorded yesterday, as “many other issuers “They saw a significantly more moderate flow.”
