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Post: Spot Bitcoin ETFs: $403M Influx & Multi-Week High for Bitcoin Price

Spot Bitcoin ETFs: $403M Influx & Multi-Week High for Bitcoin Price

Key Points:

  • Spot Bitcoin ETFs experienced their third-largest influx, totaling $403 million, on February 8th.
  • Total inflow into spot Bitcoin ETFs has exceeded $2.1 billion since their launch on January 11th.
  • BlackRock had the largest inflow with $204 million, followed by Fidelity with $128 million.
  • ArkInvests BTC ETF had the third-largest inflow with $86 million.
  • GBTC recorded $102 million in outflows.

Spot Bitcoin ETFs see significant inflow and record multi-week high for Bitcoin price

The third-largest influx of funds into spot Bitcoin exchange-traded funds (ETFs) occurred on February 8th, totaling $403 million. This influx comes despite over $100 million in outflows from the Grayscale Bitcoin Trust (GBTC). Since their launch on January 11th, the total inflow into spot Bitcoin ETFs has exceeded $2.1 billion, indicating strong demand for Bitcoin in the market.

BlackRock and Fidelity lead the way in ETF inflows

BlackRock had the largest inflow with $204 million, followed by Fidelity with $128 million. ArkInvests BTC ETF recorded the third-largest inflow with $86 million, followed by Bitwise with $60 million. The other seven ETFs combined saw $27 million in inflows, while GBTC registered $102 million in outflows.

Hot Take:

The significant inflow of funds into spot Bitcoin ETFs showcases the growing interest and demand for Bitcoin as an investment. The record multi-week high for Bitcoin price further confirms the increasing confidence in the cryptocurrency. It will be interesting to see how this trend continues and whether it will encourage more institutional investors to enter the market.

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