Bitcoin surges to $43k as ETF inflows outpace sell pressure
Early trading data from Bloomberg revealed that iShares Bitcoin Trust (IBIT) had surpassed GBTC in trading volume, indicating a resurgence in investor confidence.
Follow crypto ETF news, approvals, inflows, issuers, and market reactions across spot Bitcoin, Ethereum, and digital asset funds.
Vanguard rejects Bitcoin ETFs, citing the cryptocurrency's lack of maturity and alignment with its investment philosophy.
CTO Hong Kim denied that any problems could arise from those funds.
The rapid accumulation reflects the strong investor interest but also marks a significant moment in the integration of digital assets into mainstream finance.
In-kind orders was always BlackRock's preference over cash-creates.
The banking giant analysts also speculated that the newly launched ETFs will play a prominent role in BTC price discovery.
When ETF shares are sold it does not necessarily lead to a decline in AUM if those shares are not redeemed by APs.