🎉🚀Spot Bitcoin ETFs have blasted past a whopping $50 billion in cumulative trading volume since their US debut on January 11! This 76.68% surge from the beginning of February shows investors' growing confidence in these financial products and Bitcoin's increasing mainstream adoption as a legit asset class. 🌐💼
On Thursday, spot Bitcoin ETFs reached a cumulative volume of $1.2 billion, with BlackRock's iShares Bitcoin Trust (IBIT) leading at $457.2 million, followed by Grayscale's Bitcoin Trust (GBTC) at $348.8 million and Fidelity's Wise Origin Bitcoin Fund (FBTC) at $255.7 million. 📈💰
This milestone comes as these ETFs return to inflows after a net outflow of $35.7 million on Wednesday. FBTC and IBIT lead with $158 million and $125 million inflows, respectively, taking their total historical net inflows to $4.05 billion and $5.74 billion. 🌊📊
However, GBTC saw net outflows of $55.67 million, likely due to its higher management fees (1.5%) compared to competitors' fees (0.2% to 0.9%). 📉💸
Cheers to the growing success of spot Bitcoin ETFs! 🥂🎆