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

Spot Bitcoin ETFs See Record Inflows in Last Four Days

In the world of cryptocurrency, spot Bitcoin exchange-traded funds (ETFs) have been making waves. In fact, in the last four days alone, these ETFs have attracted more net inflows than they did in the entire first four weeks of trading.

According to data from Apollo, a Bitcoin tracking platform, ten spot Bitcoin ETFs have seen a total of 43,300 Bitcoin inflows in the past four days. This amounts to a staggering $2.3 billion at current prices. To put this in perspective, it took 20 days for these funds to gather just 42,000 Bitcoin inflows.

Spot Bitcoin ETFs Join the Billionaire Club

The recent success of spot Bitcoin ETFs is further highlighted by the fact that four of these ETFs, excluding Grayscale, have now reached the “billionaire club.” The latest addition to this prestigious group is Bitwise’s Bitcoin ETF BITB, which achieved this milestone on February 14th.

Nate Geraci, president of the ETF store, has praised Bitwise’s performance, noting that it is the only crypto-native investment fund among the top providers. This further solidifies the growing popularity and success of spot Bitcoin ETFs in the world of cryptocurrency.

BlackRock’s iShares Bitcoin ETF Surpasses $5 Billion in Assets Under Management

The race to reach billion-dollar status among Bitcoin ETFs has been won by BlackRock’s iShares Bitcoin fund, Fidelity’s Wise Origin, and Cathie Wood’s Ark21 Shares fund, leaving Bitwise behind.

Other ETFs, such as Invesco, VanEck, Valkyrie, and Franklin Templeton, have yet to reach the $500 million mark in assets under management.

WisdomTree’s Bitcoin Trust has struggled to attract significant inflows and currently ranks last among Bitcoin ETFs, with only $23 million in assets under management, according to Apollo data.

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

The surge in interest surrounding spot Bitcoin ETF inflows has been seen by numerous market participants as a primary catalyst for Bitcoin’s recent surge, propelling its price above $50,000 on February 12th.

Categorized in:

Tagged in: