The post Bitcoin ETFs Record $2.2 Billion Net Inflows In Past Week appeared on BitcoinEthereumNews.com.

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,…

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Filed under: News - @ February 18, 2024 10:04 am