YEREVAN (CoinChapter.com) — U.S. Bitcoin exchange-traded funds (ETF) saw their smallest daily gain this month, following the BTC price’s weekly dip for the first time since mid-February.
On March 14, the flows toward ETFs net dropped to $132.5 million, with Grayscale Investment’s GBTC fund witnessing $257.1 million worth of outflows, noted BitMEX Research. Nonetheless, since Jan. 11, when crypto ETFs debuted in the U.S., they have seen inflows of 211,000 BTC, amounting to almost $12 billion.
Top ETFs Surge and Shuffle: BlackRock Leads, Fidelity Stumbles
On Thursday, BlackRock’s IBIT ETF led with $345.4 million added. VanEck’s HODL was next, gaining $13.8 million after dropping its fee. Fidelity’s FBTC, usually second, fell to third with $13.7 million, its smallest gain since starting.
Financial advisors at Cetera Financial Group decided their clients could start using BlackRock’s IBIT, Fidelity’s FBTC, Franklin Templeton’s EZBC, and Invesco’s BTCO Bitcoin ETFs. This shows that interest in these ETFs is still increasing.
“As expected, we are prudently embracing ETFs and we prioritized developing this important guidance to help our financial professionals implement these products in client portfolios,”
Cetera Head of Investment Products and Partner Solutions Matt Fries said in a statement.
Advisors Embrace Bitcoin ETFs Amid Growing Competition
“The ETF Store President Nate Geraci said, “Financial advisors are actively promoting the use of bitcoin ETFs.” They are trying to stand out and gain a competitive edge with these ETFs. Things are really starting to heat up.”
Cetera Financial Group has a new rule. Now, Wealth Hub advisors can offer clients certain ETFs, including those from BlackRock, Fidelity, Franklin Templeton, and Invesco. Cetera is leading the way by making official rules for Bitcoin ETF use due to increased investor interest.
