Record Inflows: Bitcoin ETFs Receive $673.4 Million in a Single Day
New data reveals that spot market Bitcoin (BTC) exchange-traded fund (ETF) inflows have reached a new all-time high as the crypto king pushes near the $64,000 price tag for the first time in years.
According to the analytics arm of crypto exchange BitMEX, driven by asset management titan BlackRock, Bitcoin ETFs saw over $673 million worth of net inflow in just a single day – setting a new record.
“Bitcoin ETF Flow – 28th Feb 2024. All data in. Today was a record inflow day, with $673.4 million of net inflow. This was driven by Blackrock, which also had a record day, with $612.1 million of inflow.”
Major Players in the Market
- Fidelity
- BitWise
- Cathie Wood’s ARK Invest
Other spot market Bitcoin ETFs that saw significant inflows include Fidelity, BitWise, and Cathie Wood’s ARK Invest, according to the data. However, the data shows that Grayscale’s BTC ETF (GBTC) is seeing significant outflows – to the tune of hundreds of millions of dollars.
BitMEX Research also finds that the total net inflow of funds into Bitcoin ETFs since they were approved by the U.S. Securities and Exchange Commission (SEC) in mid-January has reached $7.4 billion.
Bitcoin Price Surge and Current Status
Bitcoin is trading for $62,143 at time of writing, a 1.84% gain during the last 24 hours. However, the flagship digital asset briefly hit $63,600 this morning, a level it hasn’t seen since 2022.
Hot Take: Bitcoin ETFs Break Records with Massive Inflows
New data shows that spot market Bitcoin exchange-traded funds (ETFs) have experienced a surge in net inflows, reaching an all-time high. Driven by BlackRock, these ETFs saw over $673 million worth of net inflow in just one day, setting a new record. The total net inflow of funds into Bitcoin ETFs since their approval by the SEC in mid-January has reached $7.4 billion.
Record-Breaking Inflows
- BlackRock leads the way with $612.1 million of inflow
- Fidelity, BitWise, and Cathie Wood’s ARK Invest also see significant inflows
While several Bitcoin ETFs are experiencing substantial inflows, Grayscale’s BTC ETF (GBTC) is witnessing significant outflows amounting to hundreds of millions of dollars.
Bitcoin Price Surge and Current Status
The price of Bitcoin is currently trading at $62,143, reflecting a 1.84% gain within the last 24 hours. Earlier today, the leading cryptocurrency briefly hit $63,600, a level not seen since 2022.
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