The two major political parties in the campaign for the South Korean parliamentary elections are promoting incentive measures related to encryption to win votes. The People's Power Party, led by South Korean President Yoon Suk-yeol, pledged to postpone the imposition of digital asset taxes, while the opposition Democratic Party promised to lift restrictions on ETFs (including US Bitcoin products) that directly hold tokens. Hwanseok Choi, a Democratic Party policy expert, said when quoting its declaration that we will allow ETFs, whether domestic or foreign.

Bitcoin exchange-traded funds listed in the US saw a surge in trading volume in March, reaching over $110 billion, which is three times higher than the volumes in January and February. BlackRock's IBIT accounted for almost 50% of the total trading volume, followed by Grayscale's GBTC and Fidelity's FBTC. The approval of US bitcoin ETFs by the Securities and Exchange Commission in January led to a change in the market dynamic from fundamentals to spot ETF performance, as bitcoin reached a record high of $73,000. BlackRock's volumes have mainly come from inflows since March 15, with a large portion from retail investors.

According to Twitter crypto KOL AP_Abacus, sources said that Bitcoin ETF will be added to UBS platform and will be widely used next week. UBS manages $3.5 trillion in global wealth.

According to Coinglass data reported by Jinse Finance, as of today, the total trading volume of Bitcoin ETFs has reached 4.805 billion US dollars, with a total market value of 56.778 billion US dollars and a total asset management scale of 58.216 billion US dollars. Among them, the current price of GBTC is 58.11 US dollars, with a 24-hour decline of 1.09%; the current price of IBIT is 37.15 US dollars, with a 24-hour decline of 1.07%; the current price of FBTC is 57.05, with a 24-hour decline of 0.94%; the current price of BITO is 29.8, with a 24-hour decline of 1.03%, and the current price of ARKB is 65.22, with a 24-hour decline of 1.06%.

According to Spot On Chain monitoring, the net inflow of spot Bitcoin ETF on March 15 reached 199 million US dollars. Compared with March 14, the net inflow increased by 49.6%. The cumulative net inflow of spot Bitcoin ETF for 45 trading days is 12.16 billion US dollars.

Eric Balchunas, a senior ETF analyst at Bloomberg, said that Bitcoin ETFs will eventually surpass gold ETFs, and the only thing that could disrupt this trend is a black swan event. The current power of these ETFs is beyond imagination. As long as the price of Bitcoin continues to rise (three to four days a week), I really don't see anything slowing down this trade for a period of time because it is now spiraling upwards and somewhat dependent on the price of Bitcoin. The higher the price, the more people will experience FOMO and become interested, and the more inflows will lead to higher prices.

Michael Saylor, the founder of MicroStrategy, said that ETFs have exceeded his expectations in terms of fund inflows and trading volume. This summer, the assets of Bitcoin ETFs will surpass those of gold funds. BitMEX statistics show that since its launch on January 11th, the net inflow of spot Bitcoin ETFs has reached $8.9 billion. BlackRock's IBIT and Fidelity's FBTC are among the 20 most actively traded exchange-traded funds.

Lookonchain monitoring data shows that Grayscale reduced its holdings of 9,665 BTC ($642 million) today, while 8 spot Bitcoin ETFs increased their holdings by 5,980 BTC ($397 million), with BlackRock's product adding 3,236 BTC ($215 million).

Bitcoin-based NFT collections, specifically the NodeMonkes artwork, saw the highest trading volumes in the past 24 hours at $35 million, surpassing Ethereum-based assets. The collection, which features digital pictures of comic monkeys on the Bitcoin blockchain, has reached an all-time high of $11 million in sales volumes. NodeMonkes claims to be the first 10,000-count profile picture collection on Ordinals, with a sense of exclusivity and rarity due to its early imprinting on Bitcoin in February 2022. As Bitcoin continues to rally, some observers expect Ordinals activity to remain a major focal point in March.

The current holdings of Bitcoin by US spot Bitcoin ETFs account for nearly 4% of the total Bitcoin supply. Based on data from BitMEX Research, as of Friday's midday trading session in the US stock market, these ETFs collectively held 776,464 BTC (worth $47.7 billion), while the current circulating supply of Bitcoin is 19.64 million BTC (worth $1.21 trillion), with a maximum limit of 21 million BTC.