TL;DR
- Bitcoin ETFs have secured a record $577 million in net inflows, equivalent to approximately 10,168 BTC.
- BlackRock’s IBIT and Fidelity’s FBTC experienced notable inflows, with IBIT registering an unprecedented $520 million inflow.
- Despite outflows from GBTC, the net fund flow for other seven ETFs remains positive, indicating increased interest in BTC as an investment asset.
The Bitcoin market is experiencing a notable surge in fund inflows through ETFs, according to the latest data from BitMEX. On a record-breaking day, Bitcoin ETFs have secured a total of $577 million in net inflows, equivalent to approximately 10,168 BTC. This massive flow of funds reflects widespread optimism in the crypto market and highlights the growing popularity of BTC ETFs as an investment vehicle.
One of the standout ETFs in this bullish trend is BlackRock’s IBIT. Which recorded an unprecedented $520 million inflow in a single day. This massive inflow has brought IBIT’s total net inflows to around $6.5 billion. Another notable ETF is Fidelity’s FBTC, which experienced a solid $126 million increase in net inflows. Reaching a total of $4.5 billion.
[1/4] Bitcoin ETF Flow – 27 Feb 2024
All data now in.
$576.8m net inflow on 27th Feb, very strong day. Blackrock alone had $520m inflow
Total net inflow since 11th Jan 2024 now $6,726.1m for the ETFs pic.twitter.com/E0zDBkzqxm
— BitMEX Research (@BitMEXResearch) February 28, 2024
However, this wave of inflows into Bitcoin ETFs is also accompanied by significant outflows from other investment vehicles, such as GBTC. After experiencing three consecutive days of minor outflows, GBTC saw a total outflow of $7.6 billion. This shift in fund flow suggests a redistribution of capital within the crypto market. With investors progressively moving their assets into Bitcoin ETFs and away from other financial products.
The Bitcoin Bull Run Continues Amid ETF Success
Despite the outflows from GBTC, the net fund flow for the other seven ETFs remains positive, with approximately $56 million flowing in. The broad distribution of inflows indicates a widespread increase in interest in BTC. Suggesting that investors are increasingly seeking exposure to the crypto market through these financial instruments.
In total, net inflows into Bitcoin ETFs amount to an impressive $6.7 billion, equivalent to approximately 134,000 BTC. This massive flow of funds is a clear indicator of growing institutional interest in Bitcoin. Reflecting an increasing acceptance of cryptocurrencies as a legitimate and viable asset class.
On the other hand, BTC continues its bullish rally. In the last week, it experienced a phenomenal increase of 18.7%, trading at $60,511 at the time of writing this article. The total crypto market capitalization rose by almost 5% and amounts to 2.25T.
