Spot Bitcoin ETF Market Sees Record Inflows
In just one month, the spot Bitcoin ETF market has achieved a record that took gold nearly two years to reach. The net cumulative flows for spot BTC ETFs approved by the SEC have surpassed $3 billion in the last three days alone. On February 12, the market saw inflows of approximately $500 million.
Growing Interest in Spot Bitcoin ETFs
The broader spot BTC ETF market is performing well, with nine products inching closer to a cumulative $10 billion in inflows, alongside Grayscale’s GBTC. Wall Street is showing increasing interest in Bitcoin, as institutional investors are buying into spot Bitcoin ETFs at a rate 12.5 times greater than daily production. This surge in demand has caused a supply shortage, likely due to the upcoming Bitcoin halving event in April.
Grayscale Outflows and Recent Inflows
Before Monday’s inflow, all ten spot BTC ETF products experienced a net inflow of $541.5 million when Bitcoin was approaching $49,000. BlackRock (IBIT), Fidelity (FBTC), and Ark 21Shares (ARKB) Bitcoin ETF recorded the largest inflows of $250.7 million, $188.4 million, and $136.5 million, respectively.
Grayscale has been experiencing outflows, although the intensity has slowed down recently. The volume decreased significantly to around $51.8 million but has now returned to normal levels. However, GBTC outflows reached $101.6 million, indicating another mass exodus from the spot Bitcoin ETF.
Bullish Signs for Bitcoin Price
Despite fluctuations in the market, the price of Bitcoin has shown signs of a bull run by reaching as high as $50,300 overnight. Although it has slightly dropped in the last few hours, at the time of writing, the coin was trading at $48,597.95 with a 0.81% drop within the past 24 hours.
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