US Bitcoin spot ETFs performed strongly on Thursday. Despite significant outflows from Grayscale Bitcoin Trust (GBTC), the ETFs collectively recorded net inflows of $11.11 million, indicating that investors remain confident in Bitcoin despite recent turmoil.
The numbers
According to data from Sosovalue, total net inflows into Bitcoin spot ETFs have now risen to $17.33 billion. This brings the total assets under management of these funds to $51.99 billion, representing more than 4.5 percent of Bitcoin’s total market cap.
Both institutional and retail investors appear to be increasingly seeing Bitcoin ETFs as a stable way to gain exposure to Bitcoin.
Markets remain volatile, however, and so do ETF inflows. While the $11.11 million inflow on August 15 was positive, the numbers from the day before paint a different picture.
On August 14, spot Bitcoin ETF outflows reached $81.36 million. As any crypto investor knows, the crypto market is inherently volatile, and the Bitcoin ETFs launched earlier this year are no exception.
Morgan Stanley Invests Millions in Bitcoin ETFs
Morgan Stanley announced on Wednesday that it has invested $188 million in shares of Bitcoin ETFs. The investment bank now owns more than 5.5 million shares of BlackRock’s iShares Bitcoin Trust (IBIT) ETF. With this, the American bank is taking a big step towards crypto adoption. It would not be surprising if other investment banks follow Morgan Stanley’s lead.
Despite the volatility, major financial players continue to view Bitcoin as a solid investment. Although the price has struggled to match the highs of March for some time, confidence in the asset is growing among institutional investors. This confidence forms a solid foundation for future growth.
Trade €10,000 for free and get €10 bonus
Want to enter the crypto world and perhaps buy Bitcoin or another crypto? Now is your chance! Thanks to a special deal between Newsbit and Bitvavo, our readers get an exclusive offer.
Create an account at Bitvavo using the button below and receive a welcome gift of 10 euros completely free. And that’s not all – you will also pay no trading fees on your first 10,000 euros in transactions for 7 days after registering your account.* Sign up now!
*Please note that terms and conditions apply to this promotion.
Source: https://newsbit.nl/amerikaanse-bitcoin-etfs-zagen-gisteren-een-bescheiden-instroom-van-111-miljoen/
