Bitcoin ETF saw a net inflow of $500 million on Monday! Help BTC stabilize at $72,000

120btC.com website announced the data of Bitcoin ETF on March 11, with the overall net inflow reaching US$505 million. Data shows that GBTC had a net outflow of US$494 million, IBIT had a net inflow of US$562 million, and FBTC had a net inflow of US$215 million. In addition, BTCO launched by Investco also experienced a net outflow of US$97 million. The data reflects investor flows and preferences for different Bitcoin ETFs. Although GBTC experienced net outflows, other products showed positive inflows, especially IBIT and FBTC. These data provide investors with valuable references, helping them better understand market dynamics and trends and make more informed investment decisions.

Bitcoin surged to 72K on Monday, and ETFs had considerable net inflows

In the past two weeks, Bitcoin ETFs as a whole have had good net inflows starting from Monday, with the least inflows on Friday. The overall inflow last Friday was only US$220 million, while this Monday there was US$505 million. IBIT already has 204,330 Bitcoins. Listed company MicroStrategy increased its holdings to 205,000 Bitcoins on 3/11, which is still slightly higher than IBIT.

The London Stock Exchange accepts Bitcoin and Ethereum ETN applications. This is not the main reason

In the second quarter of this year, the London Stock Exchange will begin to accept Bitcoin and Ethereum. Application for an Exchange Traded Note (ETN) for the Ethereum cryptocurrency. This ETN allows investors to track securities of crypto assets while trading on exchanges.

Because the London Stock Exchange is not the first market to launch crypto-asset-related ETNs, and such products have existed for many years. Although some in the community believe that the London Stock Exchange was the reason for Bitcoin's rise on Monday, its relevance to the news should be considered low as it is only in the planning stage and lacks substantial momentum.

What is Bitcoin ETN?

In the past, various Bitcoin ETNs have been available for investment, with different fund sizes, costs, and places of registration. For example, some famous providers and their products include ETC, CoinShares, 21Shares, WisdomTree, VanEck, Invesco, SEBA, Fidelity, etc. VanEck, also launched a Bitcoin ETN product in Europe, aiming to facilitate the purchase and trading of Bitcoin as conveniently as stocks. Instead of directly purchasing or storing the digital currency, ETNs provide an exchange-traded product that tracks Bitcoin price movements.

The current Bitcoin spot ETF is a market involving the physical purchase and sale of Bitcoin, so it has a greater influence on prices and a larger market size.

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