Bitcoin

Gold

Spot

<h4><a href="https://www.altcoinbuzz.io/?s=bitcoin+etf" target="_blank" rel="noopener">Spot Bitcoin ETFs</a> saw their third-largest inflow of $403 million on Thursday, February 8. Bitcoin ETFs have put up a strong performance since their launch early last month.</h4> 
These products have currently surpassed the $2 billion mark since their launch, reflecting the market’s eagerness for these spot Bitcoin ETFs. Interestingly, Wednesday’s heavy flow coincided with BTC’s climb to $46k, a multi-week high. 
<h5>Feb 8th Sees $403M Inflow into Bitcoin ETFs</h5> 
The ETF flow chart shows that BlackRock iShares Bitcoin Trust (IBIT) has an inflow of $204 million. Fidelity follows closely with an inflow of $124 million, while ARK 21Shares recorded an inflow of $86 million. The chart places Bitwise’s inflow at $60 million. Also, the aggregate inflows and outflows for the other seven ETFs were $27 million. GBTC recorded $102 million in outflows. 
Additionally, IBIT became the first ETF to surpass GBTC’s daily trading volume, which ETF analyst Eric Balchunas believes is noteworthy. Balchunas explains that it typically takes a new fund five to ten years to surpass the “liquidity king” in a category.&nbsp; 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Normally it takes 5-10yrs for a newborn to get even close to toppling a category’s liquidity king(s). <a href="https://twitter.com/search?q=%24IBIT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$IBIT</a> did it in under a month- trading more than both <a href="https://twitter.com/search?q=%24GBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GBTC</a> and <a href="https://twitter.com/search?q=%24BITO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BITO</a> today. They’ll all go back and forth for a bit each day but over time the gap will grow. <a href="https://t.co/mml4KpFiPy">https://t.co/mml4KpFiPy</a> 
 — Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1755735097016549466?ref_src=twsrc%5Etfw">February 8, 2024</a>
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<h5>BTC ETFs are having Better Performance than Gold ETFs</h5> 
Darin Feinstein, the founder of several blockchain companies, including Core Scientific and Blockcap, believes spot Bitcoin ETFs have been a game-changer for traditional American traders. 
The market observer noted that these ETFs provide traders with <a href="https://www.altcoinbuzz.io/cryptocurrency-news/5-key-differences-between-bitcoin-and-bitcoin-etf/" target="_blank" rel="noopener">access</a> to a new tool with untapped potential. In a recent interview with Cointelegraph, Feinstein claimed that BTC ETFs are superior to other commodities-based ETFs, such as gold ETFs. Feinstein notes that a spot Bitcoin ETF verifiably holds Bitcoin, which makes it appealing. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 1/3 
 Spot Bitcoin ETF ‘superior’ to gold ETF -Darin Feinstein 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/27a1.png" alt="➡" class="wp-smiley" style="height: 1em; max-height: 1em;">Spot Bitcoin ETFs are superior to other commodities-based ETFs as it verifiably holds BTC on immutable ledger. 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/27a1.png" alt="➡" class="wp-smiley" style="height: 1em; max-height: 1em;">Gold ETF, there is no way to know on a real-time basis if its really holding the gold or if it’s… <a href="https://t.co/2FO1e4NbhH">pic.twitter.com/2FO1e4NbhH</a> 
 — Akshayy.nft (@akshayynft) <a href="https://twitter.com/akshayynft/status/1755642712567496794?ref_src=twsrc%5Etfw">February 8, 2024</a>
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Feinstein explained that “A BTC ETF proves via the Bitcoin network that it holds the Bitcoin—that’s a much safer investment, in my opinion than investing in any other ETF, such as a gold ETF, where you have no way to know on a real-time basis if it’s really holding the gold or if it’s been authenticated.” 
In addition, Feinstein notes that a spot BTC ETF operates on an immutable ledger, unlike other ETFs. He describes the ledger as the “best accounting system that’s ever been available to humanity.” 
Bitcoin’s transparency is one of its biggest advantages over commodities like gold. The Bitcoin Network provides transparency on the supply and circulation of bitcoins. Also, BTC has a total cap of 21 million. 
Feinstein claims that there is no trustworthy way to confirm the procedures for the storage, verification, auditing, and authentication of all existing physical gold. The details of its management and exact location are not as transparent as those of Bitcoin. 
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<h5>Disclaimer</h5> 
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. 
The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/bitcoin-etfs-record-403m-in-inflow-on-feb-8th/">Bitcoin ETFs Record $403M in Inflow on Feb 8th</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.

Bitcoin ETFs Record $403M in Inflow on Feb 8th

Altcoin Buzz

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