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<a href="https://bitcoinworld.co.in/spot-bitcoin-etfs-hit-10b-milestone-just-one-month-after-approval/" title="Spot Bitcoin ETFs Hit $10B Milestone Just One Month After Approval" rel="nofollow"></a>
<ul> 
 <li style="font-weight: 400">The nine spot Bitcoin ETFs have reached a significant milestone of $10 billion in assets under management on Feb 9 – just a month after approval.</li> 
</ul> 
The recently launched spot Bitcoin exchange-traded funds (ETFs) completed their first 20 trading sessions hitting the $10 billion milestone in assets under management (AUM).&nbsp; 
<a href="https://twitter.com/BitMEXResearch/status/1756239419504316624">According</a> to data from BitMEX Research, net flows for the nine ETFs reached $2.7 billion on Jan. 9, led by BlackRock’s IBIT fund, which currently holds Bitcoin (BTC) worth $4 billion. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Bitcoin ETF Flow – 9th Feb 
 All data out. Strong day at $541.5m of net inflow 
 Invesco had an outflow, the first non-GBTC product to have an outflow day <a href="https://t.co/UCFDVAaKD3">pic.twitter.com/UCFDVAaKD3</a> 
 — BitMEX Research (@BitMEXResearch) <a href="https://twitter.com/BitMEXResearch/status/1756239419504316624?ref_src=twsrc%5Etfw">February 10, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
The second position is claimed by Fidelity’s FBTC, with over $3.4 billion in BTC under management. 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/bitcoin-price-eyes-50000-target-amid-strong-etf-inflows/" aria-label="“Bitcoin Price Eyes $50,000 Target Amid Strong ETFs Inflows” (Edit)">Bitcoin Price Eyes $50,000 Target Amid Strong ETFs Inflows</a> 
ARK 21Shares’ fund also reached the billion-dollar milestone, <a href="https://twitter.com/21shares_us/status/1756080097520411066">holding</a> about $1 billion worth of Bitcoin in its portfolio.&nbsp; 
Meanwhile, Grayscale’s GBTC outflows amounted to $6.3 billion over the past 30 days.&nbsp; 
The fund recorded $51.8 million in outflows on Feb. 9, its smallest daily volume of capital withdrawals since conversion. 
“I thought the Nine would get a bit weaker as GBTC outflows subsided but they’re getting stronger,” noted Bloomberg analyst Eric Balchunas on X platform (formerly Twitter). 
Over the next few months, Bitcoin ETF flows are expected to increase as trading firms complete their due diligence on the investment vehicles. 
Bitcoin’s price consolidated above technical support in January, “including its 200-day moving average ($29,902) and on-chain mean ($33,487)”, according to a recent analysis from ARK Invest.&nbsp; 
Over the month, the cryptocurrency price rose 0.6% to $42,585. 
ARK Invest’s bullish view is that Bitcoin is replacing gold as a risk-off asset. “Bitcoin’s price relative to that of gold has increased twenty-fold in the last 7 years. In January 2024, Bitcoin could buy ~20 troy oz of gold, compared to 1 troy oz in April 2017,” notes the analysis. 
“We believe this trend should continue as Bitcoin increases its role in financial markets.” 
Considering the macroeconomic environment, the asset manager predicts that “as inflation cools and real rates rise, Bitcoin should remain antifragile as banks continue to lose deposits.” 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/bitcoin-etf-sees-net-inflow-of-38-4m-blackrock-outpaces-grayscale/" aria-label="“Bitcoin ETF Sees Net Inflow Of $38.4m, BlackRock Outpaces Grayscale” (Edit)">Bitcoin ETF Sees Net Inflow Of $38.4m, BlackRock Outpaces Grayscale</a> 
The US Securities and Exchange Commission (SEC) approved Bitcoin ETF applications from ARK 21Shares, Invesco Galaxy, VanEck, WisdomTree, Fidelity, Valkyrie, BlackRock, and Grayscale on Jan. 10, more than a decade after Cameron and Tyler Winklevoss applied to launch the Winklevoss Bitcoin Trust in 2013. 
<blockquote>
 Disclaimer: The information provided is not trading nor financial advice. Bitcoinworld.co.in holds no liability for any trading or investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any trading or investment decisions.
</blockquote> 
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The post <a href="https://bitcoinworld.co.in/spot-bitcoin-etfs-hit-10b-milestone-just-one-month-after-approval/">Spot Bitcoin ETFs Hit $10B Milestone Just One Month After Approval</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

Spot Bitcoin ETFs Hit $10B Milestone Just One Month After Approval

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