• Login
Crypto Newsmart
No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE
No Result
View All Result
Crypto Newsmart
No Result
View All Result

Bitcoin ETFs Record $2.2 Billion Net Inflows In Past Week

Crypto Newsmart by Crypto Newsmart
1 year ago
in Bitcoin
Reading Time: 3 mins read
32
VIEWS
Share on Facebook
Bitcoin ETFs Record

Bitcoin ETFs (exchange-traded funds) had another positive performance over the past week, with billions of dollars flowing into the crypto investment products.

Bitcoin ETFs: $2.2 Billion Inflows Over The Past Week

The latest data by BitMEX Research shows that the Bitcoin spot ETFs recorded more than $2.2 billion in total inflows between February 12 and February 16. According to Bloomberg analyst Eric Balchunas, this figure is more than any other exchange-traded product in the United States took in over the last seven days.

As expected, BlackRock’s IBIT amassed the bulk of this capital, as it continues to lead the pack in the spot ETF race. The fund attracted more than $1.6 billion in the past week alone, bringing its net flows to $5.2 billion.

Eric Balchunas noted in his post on X: 

$IBIT alone has taken in $5.2b YTD, which is 50% of BlackRock’s total net ETF flows, out of 417 ETFs.

Bitcoin ETFs daily flows | Source: BitMEX Research

BlackRock’s investment product was followed by Fidelity’s FBTC, which posted about $648.5 million in net inflows between February 12 and February 16. In third place was Ark Invest’s BTCO, which has more than $1.3 billion in total flows since January 11, the day spot Bitcoin ETFs started trading in the US.

Grayscale’s GBTC witnessed a total outflow of about $623 million over the past week. This figure represents an increase in GBTC outflow when compared to the previous week’s $411 million.

The significance of the overall positive flows into the spot Bitcoin ETFs can already be seen in the price of cryptocurrency, which rose to its highest level in more than two years over the past week.  The Bitcoin price surpassed the $52,000 mark on Thursday, February 15.

ETF Trading Volume On The Rise

According to a recent Santiment report, Bitcoin ETFs’ trading volume has been on the rise since the start of February. The on-chain analytics revealed that the 7 top spot ETFs registered more than $1.8 billion of trading volume per day in the first half of the month.

📊 #Bitcoin‘s #ETF trading volume has began thriving once again here in mid-February. Over $1.8B of trading volume per day is occurring between the 7 most notable ETF’s (GBTC, IBIT, FBTC, ARKB, BTCO, BITB, HODL). Particularly as $BTC crossed above $50K earlier

(Cont) 👇 pic.twitter.com/4f3ZJjyZLz

— Santiment (@santimentfeed) February 16, 2024

In fact, Santiment associated the recent spurt in the price of Bitcoin with the explosion in BTC ETF trading volume. The analytics platform said: 

Particularly as BTC crossed above $50K earlier this week, we saw an explosion of support coming in via these ETFs.

As of this writing, Bitcoin is valued at $51,326, reflecting a 1.3% price decline in the past 24 hours.

Bitcoin ETFs

Bitcoin price at $51,598 on the daily timeframe | Source: BTCUSDT chart on TradingView

Featured image from Shutterstock, chart from TradingView

Source link

Related Posts

Cryptocurrency market trends
Bitcoin

Cryptocurrency Market Insights: Recent Developments and Future Outlook

17 November 2024
Weekly Crypto Market Update: Major Highlights (October 25–31, 2024)
Bitcoin

Weekly Crypto Market Update: Major Highlights (October 25–31, 2024)

1 November 2024
Crypto Industry This Week: A Changing Landscape Amid Global Tensions
Bitcoin

Crypto Industry This Week: A Changing Landscape Amid Global Tensions

8 October 2024
Most recent developments in the realm of cryptocurrencies
Bitcoin

Most recent developments in the realm of cryptocurrencies

22 September 2024
Week's Top Performers
Bitcoin

Bitcoin Remains Steady at $63,000 After a Turbulent Week

22 September 2024
German Government Sells Remaining Bitcoin, Setting Stage for Potential BTC Rally
Bitcoin

German Government Sells Remaining Bitcoin, Setting Stage for Potential BTC Rally

13 July 2024

[convertful id="153816"]

by CurrencyRate.Today
  • Home
  • Disclaimer
  • Privacy Policy
  • Digital Millennium Copyright Act Policy (DMCA)
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us
CRYPTO NEWSMART

Copyright © 2021 Crypto Newsmart.

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO UPDATES
    • ALTCOIN
    • ETEREUM
    • NFT’s
    • CRYPTO PRICE ANALYSIS
  • LEARN CRYPTO
  • CRYPTO EXCHANGES
  • BLOCKCHAIN
  • MINING
  • SCAM ALERT
  • PRESS RELEASE

Copyright © 2021 Crypto Newsmart.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Manage Cookie Consent

We use cookies to optimise our website and our service.

Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage {vendor_count} vendors Read more about these purposes
Preferences
{title} {title} {title}