United

Bitcoin

Billion

<a href="https://bitcoinist.com/lack-of-disclosure-costs-vaneck-almost-2-million/" target="_blank" rel="noopener ">Bitcoin ETFs</a> (exchange-traded funds) had another positive performance over the past week, with billions of dollars flowing into the crypto investment products. 
<h2 id="strong-bitcoin-etfs-2-2-billion-inflows-over-the-past-week-strong">Bitcoin ETFs: $2.2 Billion Inflows Over The Past Week</h2> 
The latest <a href="https://x.com/BitMEXResearch/status/1758775499604574677?s=20" target="_blank" rel="noopener nofollow">data by BitMEX Research</a> shows that the Bitcoin spot ETFs recorded more than $2.2 billion in total inflows between February 12 and February 16. According to Bloomberg analyst Eric Balchunas, this figure is more than any other exchange-traded product in the United States took in over the last seven days. 
As expected, BlackRock’s IBIT amassed the bulk of this capital, as it continues to lead the pack in the spot ETF race. The fund attracted more than $1.6 billion in the past week alone, bringing its net flows to $5.2 billion. 
Eric Balchunas noted in his <a href="https://x.com/EricBalchunas/status/1758845246924783973?s=20" target="_blank" rel="noopener nofollow">post on X</a>:&nbsp; 
<blockquote>
 $IBIT alone has taken in $5.2b YTD, which is 50% of BlackRock’s total net ETF flows, out of 417 ETFs.
</blockquote> 
<img loading="lazy" decoding="async" class="aligncenter wp-image-282243 size-large" src="https://bitcoinist.com/wp-content/uploads/2024/02/GGjobVtWkAARim9.jpeg?resize=857%2C660" alt="Bitcoin ETFs" width="857" height="660" srcset="https://bitcoinist.com/wp-content/uploads/2024/02/GGjobVtWkAARim9.jpeg?w=1200 1200w, https://bitcoinist.com/wp-content/uploads/2024/02/GGjobVtWkAARim9.jpeg?w=545 545w, https://bitcoinist.com/wp-content/uploads/2024/02/GGjobVtWkAARim9.jpeg?w=768 768w, https://bitcoinist.com/wp-content/uploads/2024/02/GGjobVtWkAARim9.jpeg?w=857 857w, https://bitcoinist.com/wp-content/uploads/2024/02/GGjobVtWkAARim9.jpeg?w=750 750w, https://bitcoinist.com/wp-content/uploads/2024/02/GGjobVtWkAARim9.jpeg?w=1140 1140w" sizes="(max-width: 857px) 100vw, 857px" data-recalc-dims="1"> 
BlackRock’s investment product was followed by Fidelity’s FBTC, which posted about $648.5 million in net inflows between February 12 and February 16. In third place was Ark Invest’s BTCO, which has more than $1.3 billion in total flows since January 11, the day spot Bitcoin ETFs started trading in the US. 
Grayscale’s GBTC witnessed a total outflow of about $623 million over the past week. This figure represents an increase in GBTC outflow when compared to the previous week’s $411 million. 
The significance of the <a href="https://bitcoinist.com/evaluating-performance-bitcoin-etfs-since-launch/" target="_blank" rel="noopener ">overall positive flows</a> into the spot Bitcoin ETFs can already be seen in the price of cryptocurrency, which rose to its highest level in more than two years over the past week.&nbsp; The Bitcoin price surpassed the $52,000 mark on Thursday, February 15. 
<h2 id="strong-etf-trading-volume-on-the-rise-strong">ETF Trading Volume On The Rise</h2> 
According to a <a href="https://x.com/santimentfeed/status/1758589344556941354?s=20" target="_blank" rel="noopener nofollow">recent Santiment report</a>, Bitcoin ETFs’ trading volume has been on the rise since the start of February. The on-chain analytics revealed that the 7 top spot ETFs registered more than $1.8 billion of trading volume per day in the first half of the month. 
<blockquote class="twitter-tweet"> 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4ca.png" alt="📊" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">#Bitcoin</a>‘s <a href="https://twitter.com/hashtag/ETF?src=hash&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">#ETF</a> trading volume has began thriving once again here in mid-February. Over $1.8B of trading volume per day is occurring between the 7 most notable ETF’s (GBTC, IBIT, FBTC, ARKB, BTCO, BITB, HODL). Particularly as <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">$BTC</a> crossed above $50K earlier 
 (Cont) <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/4f3ZJjyZLz" rel="nofollow" target="_blank">pic.twitter.com/4f3ZJjyZLz</a> 
 — Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1758589344556941354?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">February 16, 2024</a>
</blockquote> 
In fact, Santiment associated the <a href="https://bitcoinist.com/bitcoin-trader-calls-all-time-high-spike-local-top/" target="_blank" rel="noopener ">recent spurt in the price of Bitcoin</a> with the explosion in BTC ETF trading volume. The analytics platform said:&nbsp; 
<blockquote>
 Particularly as BTC crossed above $50K earlier this week, we saw an explosion of support coming in via these ETFs.
</blockquote> 
As of this writing, Bitcoin is valued at $51,326, reflecting a 1.3% price decline in the past 24 hours. 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/177SpPqc/" alt="Bitcoin ETFs" width="2174" height="1434">

Bitcoin ETFs Record $2.2 Billion Net Inflows In Past Week

Table of Contents

Bitcoinist

Other articles published on Feb 18, 2024

Crypto Bombshell: Deltec Bank’s Role in Bankman-Fried’s Tether Manipulation Scheme Exposed

$BONK and $CORGIAI Nosedive as $GFOX Continues to Rally

BRICS is outperforming G7 way faster than everyone thought

Personal information of over 50,000 exposed in Bank of America breach

Yuga Labs Acquires Moonbirds NFT Collection Creator ‘Proof’

Chainlink’s LINK Token Holds Steady as Cryptocurrency Market Bounces Back

Join our free newsletter for daily crypto updates!