JPMorgan reports that the weekly inflows into the Bitcoin ETF have reached their highest levels since its launch.
JPMorgan’s analysis of cryptocurrency markets revealed that Bitcoin ETF inflows this week were the highest since its launch.
The investment bank approximates that on Thursday, March 14, the 44th day of trading, U.S. spot Bitcoin ETFs saw preliminary net sales of around $132 million. JPMorgan noted that daily gross flows (excluding GBTC) amounted to $389 million, a substantial decrease from the record-breaking daily gross flows of over $1.1 billion observed just a few days earlier.
Nevertheless, the group recorded its most substantial week of inflows since its launch, amounting to approximately $2.6 billion in net sales (including GBTC) and $4.0 billion in gross sales (excluding GBTC) for the five trading days ending on March 14.
The bank highlighted that Grayscale’s GBTC redemptions amounted to -$257 million yesterday. Additionally, they indicated that BlackRock’s IBIT accounted for nearly 90% of the gross flows recorded on the same day, as “many other issuers experienced considerably subdued flow.”
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