Bitcoin ETFs Record $2.2 Billion Net Inflows In Past Week

Bitcoin ETFs (exchange-traded funds) had one other optimistic efficiency over the previous week, with billions of {dollars} flowing into the crypto funding merchandise.

Bitcoin ETFs: $2.2 Billion Inflows Over The Previous Week

The most recent knowledge by BitMEX Analysis reveals that the Bitcoin spot ETFs recorded greater than $2.2 billion in whole inflows between February 12 and February 16. Based on Bloomberg analyst Eric Balchunas, this determine is greater than some other exchange-traded product in the USA took in during the last seven days.

As anticipated, BlackRock’s IBIT amassed the majority of this capital, because it continues to steer the pack within the spot ETF race. The fund attracted greater than $1.6 billion prior to now week alone, bringing its web flows to $5.2 billion.

Eric Balchunas famous in his put up on X:

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

Bitcoin ETFs every day flows | Supply: BitMEX Analysis

BlackRock’s funding product was adopted by Constancy’s FBTC, which posted about $648.5 million in web inflows between February 12 and February 16. In third place was Ark Make investments’s BTCO, which has greater than $1.3 billion in whole flows since January 11, the day spot Bitcoin ETFs began buying and selling within the US.

Grayscale’s GBTC witnessed a complete outflow of about $623 million over the previous week. This determine represents a rise in GBTC outflow when in comparison with the earlier week’s $411 million.

The importance of the general optimistic flows into the spot Bitcoin ETFs can already be seen within the worth of cryptocurrency, which rose to its highest degree in additional than two years over the previous week. The Bitcoin worth surpassed the $52,000 mark on Thursday, February 15.

ETF Buying and selling Quantity On The Rise

Based on a current Santiment report, Bitcoin ETFs’ buying and selling quantity has been on the rise because the begin of February. The on-chain analytics revealed that the 7 prime spot ETFs registered greater than $1.8 billion of buying and selling quantity per day within the first half of the month.

📊 #Bitcoin‘s #ETF buying and selling quantity has started thriving as soon as once more right here in mid-February. Over $1.8B of buying and selling quantity per day is going on between the 7 most notable ETF’s (GBTC, IBIT, FBTC, ARKB, BTCO, BITB, HODL). Notably as $BTC crossed above $50K earlier

(Cont) 👇 pic.twitter.com/4f3ZJjyZLz

— Santiment (@santimentfeed) February 16, 2024

The truth is, Santiment related the current spurt within the worth of Bitcoin with the explosion in BTC ETF buying and selling quantity. The analytics platform stated: