Bitcoin hits new $73.6k all-time high as ETF influx surpasses $1 billion Bitcoin hits new $73.6k all-time high as ETF influx surpasses $1 billion
BlackRock's iShares Bitcoin ETF leads with $849 million inflow as BTC price soars to above $73,000.
1 min read
Updated: Mar. 13, 2024 at 10:04 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Bitcoin’s price continued with its recent upward momentum following the record $1 billion inflow into the US-based exchange-traded funds (ETFs) on Mar. 12.
According to CryptoSlate’s data, the flagship digital asset climbed to an all-time high of $73,637, resulting in significant losses of more than $100 million for traders speculating on its price during the past day.
This latest milestone marks a steady upward trend, with BTC’s price surging by approximately 10% in the past week and an impressive 47% over the last 30 days. Notably, these price surges coincide with a pivotal moment in Bitcoin’s history as it braces for the highly anticipated halving event, expected to enhance the asset’s scarcity significantly.
Moreover, the price surge has propelled all Bitcoin holders into profit, including those who entered the market recently. CryptoSlate also reported that the top digital assets might be poised for more gains. Its recent price movements have cleared most leveraged positions above $66,000, establishing a robust support level for natural price discovery above this mark.
ETFs see the most significant single-day inflow.
According to Farside data, Bitcoin ETFs’ substantial numbers show no signs of stopping, with these investment products seeing their most significant single-day inflow exceeding $1 billion on Mar. 12.
The standout performer among the Newborn Nine remains BlackRock’s iShares Bitcoin ETF (IBIT), witnessing a record flow of $849 million. This elevates its total assets under management to $15.4 billion, with the fund holding 215,000 BTC.
Following suit, ARK Invest’s ARKB and VanEck’s BRRR saw net inflows of $92.96 million and $82.93 million, respectively. Meanwhile, ETFs such as Fidelity’s FBTC and Bitwise BITB experienced more modest flows.
Conversely, Grayscale’s GBTC experienced outflows of approximately $78 million during the same period, while Invesco’s BTCO reported outflows of $19.7 million.
Industry analysts attribute these unprecedented inflows to a growing acknowledgment of Bitcoin as a legitimate asset class among institutional investors.
Mentioned in this article
Bitcoin 
BlackRock 
Grayscale Investments 
Bitwise 
Fidelity Investments 
Ark Invest 
Grayscale Bitcoin Trust iShares Bitcoin Trust 
Fidelity Wise Origin Bitcoin Trust 
Bitwise Bitcoin ETF 
Invesco Galaxy Bitcoin ETF 
ARK 21Shares Bitcoin ETF Author 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
BlackRock
BlackRock, synonymous with global asset management, is an American multinational investment management corporation based in New York City.
Grayscale Investments
Established in 2013 by Digital Currency Group, Grayscale Investments is a trusted authority on digital currency investing and cryptocurrency asset management.
Bitwise
Bitwise Asset Management pioneered the first cryptocurrency index fund and is the leading provider of rules-based exposure to the cryptoasset space..
Fidelity Investments
Fidelity Investments Inc., commonly referred to as Fidelity, is a multinational financial services corporation based in Boston, Massachusetts.
Ark Invest
ARK Investment Management LLC (ARK Invest) holds a precision lens on thematic investing.
The Grayscale Bitcoin Trust (GBTC) is a digital currency investment product that provides investors with access to Bitcoin through traditional investment channels.
The BlackRock Bitcoin ETF, known as the iShares Bitcoin Trust (IBIT), is an investment fund that provides regulated exposure to Bitcoin for investors.
The Fidelity Wise Origin Bitcoin Trust (FBTC) is a spot Bitcoin ETF that offers investors exposure to the price of Bitcoin.
The Bitwise Bitcoin ETF (BITB) is a newly launched exchange-traded fund that provides investors with exposure to Bitcoin.
The Invesco Galaxy Bitcoin ETF is a new exchange-traded fund that tracks the performance of Bitcoin.
The ARK 21Shares Bitcoin ETF (ARKB) is a digital asset ETF that seeks to track the performance of bitcoin, as measured by the performance of the CME CF Bitcoin Reference Rate – New York Variant (the “Index”).