Spot BTC exchange-traded funds noted the highest inflows in both bitcoin and dollar terms since they started trading in January.climbed above $73,00 early Wednesday, adding 2.5% in 24 hours to reverse Tuesday’s losses after a $360 million liquidation event sent prices tumbling.
The gain followed a record day of exchange-traded fund inflows in terms of both dollars and bitcoin. Data tracked and cited by BitMEX Research shows spot bitcoin ETFs took in 14,706 BTC, or over $1 billion, in net inflows on Tuesday, surpassing a February record of $673 million. Blackrock posted a record $849 million of inflows while Grayscale led outflows at $79 million. Total inflows crossed the $4 billion mark.“The intraday nature of the move is reminiscent of the behavior of large institutional traders, with trading algorithms intercepting the move and retail traders often joining in,” Alex Kuptsikevich, a senior market analyst at FxPro, said in an email to CoinDesk.
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