Bitcoin ETFs recorded inflows of US$2.2 billion between February 12 and February 16.
BlackRock's iShares #Bitcoin Trust (IBIT) dominated with inflows of US$1.6 billion.
Inflows also came from Fidelity's Wise Origin Bitcoin Fund with $648.5 million, ARC 21Shares Bitcoin Fund with $405 million and Bitwise Bitcoin Fund with $232.1 million.
Grayscale Bitcoin Trust saw outflows of $624 million, totaling more than $7 billion since its conversion to a spot #ETF. The data was staggering: $2.2 billion flowed into the bitcoin ETF between Feb. 12 and Feb. 16, setting a new bar not only for the crypto industry, but for ETFs in general. There are more than 3,400 ETFs vying for investors' money in the U. S. , but the huge inflows into bitcoin ETFs surpassed them, heralding a change in investor sentiment and strategy too significant to ignore.
Leading the way was BlackRock's iShares Bitcoin Trust (IBIT), which raised $1.6 billion. This shows that investors trust bitcoin and are enthusiastic about it as a viable asset class. That $1.6 billion represents a significant portion of the total net inflows into BlackRock's ETFs this year, making IBIT an attractive ETF candidate; IBIT accounts for 50% of the inflows from BlackRock's entire portfolio of 417 ETFs.
Other bitcoin ETF players are also in the spotlight. Fidelity's Wise Origin Bitcoin Fund and Arc21Shares Bitcoin Fund received $648.5 million and $405 million, respectively. The Bitwise ETF Bitcoin Fund also saw inflows of $232.1 million, indicating widespread confidence in bitcoin as an asset. The Greyscale Bitcoin Trust recorded an outflow of $624 million, a reminder of the volatile and unpredictable nature of #cryptocurrency investments.
The inflow of funds into the bitcoin-ETF coincided with a marked increase in the bitcoin price, which has risen 91% over the past four months. On January 10, the U. S. Securities and Exchange Commission (SEC) approved a venue for the bitcoin-ETF.
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