Impressive Influx into Bitcoin ETFs
February 12–18 saw a remarkable $2.2 billion surge into Bitcoin ETFs, exceeding expectations and outpacing inflows into any other ETF available in the United States.
Vanguard’s Stance on Bitcoin
Despite the rapid growth of the crypto sector and Bitcoin ETFs, Vanguard has absorbed an astounding $30 billion in inflows since the launch of Bitcoin ETFs. This figure is six times greater than Bitcoin ETFs’ achievements, highlighting Vanguard’s commitment to its traditional finance approach.
Vanguard remains steadfast in its refusal to engage with the cryptocurrency market, even removing futures-backed Bitcoin funds from its platform.
Bitcoin ETF Inflows and BlackRock’s Strategy
BlackRock’s iShares Bitcoin Trust (IBIT) captured $1.6 billion in positive flows during the week and accumulated $5.2 billion year-to-date, constituting 50% of BlackRock’s total net ETF flows.
Variations in unrealized gains across different funds reveal distinct buying patterns and dollar-cost averaging strategies.
Bitcoin’s Price Gains
Bitcoin’s recent price gains are backed by the reason of spot Bitcoin ETF approval by the U.S. SEC on January 10.
The notable inflow of funds into Bitcoin ETFs has coincided with Bitcoin’s positive price momentum, contributing to a nearly 7% climb during the week and trading at $52,100 at the time of writing.
Central banks are also taking notice, with a trade group coalition urging the SEC to consider modifications for banks to act as custodians of BTC funds.
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