Today marked a historic milestone for Bitcoin exchange-traded funds (ETFs) as total net inflows surged to an unprecedented $1.05 billion, setting a new single-day record since the inception of ETF trading. 

According to SoSoValue data, on March 12, the total net inflow into Bitcoin spot ETFs reached $1.05 billion, setting a new record for the highest single-day net inflow since the first trading day of the ETF, representing an increase of approximately 56% compared to the net inflow…

— Wu Blockchain (@WuBlockchain) March 13, 2024

This remarkable surge in inflows, representing a staggering 108% increase from the previous trading day, coincided with Bitcoin meteoric rise to $73,000, further solidifying the cryptocurrency’s status as a global asset of considerable value.

The #Bitcoin price just topped $73,000!

Sharing a smart whale who made ~$217M on $BTC, and currently holds 4.3K $BTC($313M)!

He deposited 100 $BTC ($7.22M) into #Binance 3 hours ago to take profits.

He started accumulating $BTC on Aug 24, 2023 and withdrew 8.5K $BTC($279M)…

— Lookonchain (@lookonchain) March 13, 2024

The cumulative net inflow into all 10 Bitcoin ETFs now stands at an impressive $11.14 billion, reflecting the sustained investor interest and confidence in the digital currency market.

Notably, BlackRock’s IBIT ETF has emerged as a dominant player in the space, boasting a substantial holding of 203,755 BTC valued at $14.8 billion. 

Total net inflow into #BitcoinETFs hit $1.05B today, a new single-day record since ETF inception! 🔥

Here are some key points:
• The above net inflow records a 108% surge from the prior trading day.
• All 10 ETFs have brought in $11.14B after 42 trading days since Jan 10.

— Spot On Chain (@spotonchain) March 13, 2024

With this remarkable accumulation, IBIT now stands as a formidable competitor to industry giants like MicroStrategy, falling short of approximately 10,000 BTC behind the holdings of the US Government.

Asus Significant Shifts In Bitcoin Wallet Distribution To Monitor

In parallel with the surge in ETF inflows, on-chain data provided by Santiment highlights significant shifts in Bitcoin wallet distribution patterns.

Despite Bitcoin’s continued ascent to new all-time highs over the past two weeks, the number of small wallets holding less than 0.1 BTC has witnessed a notable increase, totaling an additional 277,000 wallets.

🐳🐠 Over the past 2 weeks, as #Bitcoin has repeatedly extended its now $72.7K #AllTimeHigh, small wallets with less than 0.1 $BTC have continued increasing in number (+277K more). Meanwhile, wallets with 1K+ $BTC have dropped (105 less).

— Santiment (@santimentfeed) March 12, 2024

Conversely, wallets holding 1,000 BTC or more have experienced a slight decline, indicating a redistribution of ownership within the Bitcoin ecosystem.

Meanwhile, on the trading front, an astute whale trader who has amassed considerable profits from Bitcoin made a strategic move by depositing 100 BTC ($7.22 million) into Binance to capitalize on recent gains. 

Having commenced accumulation of BTC in August 2023, the trader has meticulously managed their holdings, withdrawing 8,500 BTC ($279 million) from Binance at an average price of $32,854 before redepositing 4,300 BTC ($183 million) at an average price of $43,534. 

With a current holding of 4,300 BTC valued at $313 million, the trader has realized an estimated profit of approximately $217 million.

Overall, the confluence of record-breaking ETF inflows, shifting wallet dynamics, and strategic trading maneuvers underscores the dynamic nature of the Bitcoin market and highlights the continued allure of digital assets among investors worldwide.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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