Bitcoin ETF

Bitcoin

Spot

James

BlackRock

<div class="watcher-guru">
 <p>The new Spot <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a>s have been a huge hit in the markets since being added in January 2024. Already, ETFs have amassed $7.7 billion in funds since their debut. In the latest update, Spot <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a>s have seen $700 million in net inflows. This comes as BlackRock and Fidelity are offsetting Grayscale’s Bitcoin Trust (GBTC).</p>
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    <p lang="en" dir="ltr">JUST IN: BlackRock &amp; Fidelity now hold 134,358 $BTC worth over $5.7 billion for their spot #<a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a>s.</p>— Watcher.Guru (@WatcherGuru) February 5, 2024
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 <p>According to data from CoinShares Monday, BlackRock-managed IBTC and Fidelity’s FBTC, the two top dogs from the new wave of ETFs, booked $884 million and $674 million in weekly inflows, respectively. Both trusts rose in inflows compared to last week’s numbers. Furthermore, numbers for GBTC showed that investors withdrew some $927 million from Grayscale’s trust.</p>
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 <p>“Data highlights a significant reduction in momentum of these outflows in recent weeks,” James Butterfill, head of research at CoinShares, said in the report.</p>
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 <p><strong>Also Read: Spot <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a>s Hold 3.3% of Current BTC Supply</strong></p>
 <p>Following landmark approval by the SEC, Spot <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a>s began trading in the US on January 11th. As we approach the one-month anniversary of this approval, <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a>s still appear to be a hit, as the new diversity of inflows in the Bitcoin Trust funds is growing away from solely GBTC.</p>
 <p>As of last week, the ETFs have amassed $7.7 billion in funds, more than offsetting the $6 billion outflows from incumbents, the report also highlights.</p>
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<div class="cs-entry__tags">
 <ul>
  <li>bitcoin</li>
  <li>Bitcoin ETF</li>
  <li>spot bitcoin etf</li>
 </ul>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/spot-bitcoin-etfs-reach-700m-inflows-blackrock-fidelity-offset-gbtc-tbt78954.html">https://thebittimes.com/spot-bitcoin-etfs-reach-700m-inflows-blackrock-fidelity-offset-gbtc-tbt78954.html</a></p>

Spot Bitcoin ETFs Reach $700M Inflows: BlackRock, Fidelity Offset GBTC

TheBitTimes

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