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    Anu T S in Bitcoin

    15 Feb 11:45 AM


    Bitcoin ETFs inflows snowball: Last 4 days bigger than first 4 weeks

    Bitcoin ETFs have attracted over $2.2 billion in new inflows over the last four days alone.
    Spot Bitcoin exchange-traded funds (ETFs) have attracted more net inflows in the last four days of trading than the entire first four weeks.

    According to data from Bitcoin tracking platform Apollo, ten spot Bitcoin ETFs have generated 43,300 Bitcoin — worth $2.3 billion at current prices — in inflows over the last four days alone. Comparatively, it took 20 days for the funds to gather just 42,000 of Bitcoin inflows.

    It comes just as four spot Bitcoin ETFs — excluding Grasyscale — have now taken their place in the “billionaire club,” with crypto-native investment firm Bitwise’s Bitcoin ETF BITB becoming the latest to clear the milestone on Feb. 14.

    Nate Geraci, the president of the ETF store, described Bitwise’s performance as the “most impressive,” adding that it was the only crypto-native investment fund among the top providers.

    Bitwise was beaten to billion-dollar status by BlackRock’s iShares Bitcoin fund, Fidelity’s Wise Origin, and Cathie Wood’s Ark21 Shares fund.

    The remaining ETFs, including Invesco, VanEck, Valkyrie, and Franklin Templeton, are further off, as they are yet to even breach the $500 million AUM mark.

    WisdomTree’s Bitcoin Trust has been struggling to gain meaningful inflows, currently standing in last place among the Bitcoin ETFs, with just $23 million in AUM, per Apollo data.

    Notably, on Feb. 13, BlackRock’s iShares ETF (IBIT) fund became the first Bitcoin ETF to surpass $5 billion in assets under management, now holding a total of 105,280 BTC on its books.

    The bullishness around spot Bitcoin ETF flows has been viewed by many market participants as a key driving force behind Bitcoin’s recent rally, which saw its price breach $50,000 on Feb. 12.

    Source - Coin Telegraph