Record Day for Bitcoin ETF Net Inflows - JP Morgan Report
Thursday, 29 February 2024, 23:18
JP Morgan Analysis of Bitcoin ETF Net Inflows
JP Morgan revealed that Wednesday marked the largest day for bitcoin ETF net inflows, with $675 million in net sales, contributing to the total $7.5 billion since launch. The single day saw gross sales just shy of the all-time record, mainly due to Grayscale's significant outflows of $216 million on the same day.
Key Points:
- Record Inflows: Wednesday witnessed unprecedented net sales of $675 million to bitcoin ETFs.
- Market Impact: The surge in trading volume and price surge for cryptocurrencies has attracted investors to these funds.
- Observations: JPM analysts noted the growing interest and positive market response to the crypto asset surge.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.