Inflows Into Bitcoin ETFs Exceed the All-Time High; Is BTC On The Verge Of Hitting New Highs?

Major Bitcoin ETFs are setting new milestones for BTC inflows. The United States’ first bitcoin (BTC)-linked exchange-traded fund (ETF), ProShares ETF, which trades on the New York Stock Exchange under the symbol BITO, has achieved a new milestone. According to Arcane Research, the BITO ETF’s overall Bitcoin exposure has reached a fresh all-time high of almost 28,000 BTC. This was made feasible by the torrential inflows during the last two weeks.

BITO is set to launch 3846 futures contracts.

According to Arcane Research, such large inflows into futures-ETFs over the last few weeks may have a spillover effect on bitcoin’s price. It did, however, mention that market makers want delta neutrality, which eventually results in them gathering more in the spot market to balance net short exposure.

Furthermore, BITO announced the launch of its 3846 March futures contracts. Due to the unpredictable market conditions following the Russian-Ukrainian conflict, the last time rolling period proved extremely tough.

BITO, on the other hand, increased its March exposure on Monday by rolling over 437 March contracts to April. The funds received a whopping 225 BTC in a single day.

Finally, the data indicates that the large inflows into ETFs indicate that investors’ appetite for Bitcoin is growing via traditional investment techniques.

 

The Bitcoin ETF for Investment Purposes currently holds 36,271.8 BTC.

According to Wu Blockchain, Glassnode data indicates that the Purpose Bitcoin ETF, North America’s first ETF, presently possesses 36,271.8 BTC. This is the fund’s largest holding of Bitcoins. Meanwhile, the ETF has increased its holdings by 2,473.5 BTC in the last two weeks alone.

Despite the uncertain market environment, Bitcoin has gained some ground. The world’s largest cryptocurrency has increased by more than 15% in the last 30 days. BTC, on the other hand, is up 1.8 percent in the previous 24 hours and is currently trading at an average price of $43,825.63. Additionally, its 24-hour trading volume of $31,476,745,321 is up 16%.

 

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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