United

Bitcoin

ETF COIN

Billion

<a href="https://bitcoinist.com/lack-of-disclosure-costs-vaneck-almost-2-million/" target="_blank" rel="noopener noreferrer nofollow">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 noreferrer 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 noreferrer 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" src="https://bitcoinist.com/wp-content/uploads/2024/02/GGjobVtWkAARim9.jpeg?resize=857%2C660" alt="Bitcoin ETFs" width="857" height="660">
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 noreferrer nofollow">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 noreferrer 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="📊" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#Bitcoin</a>‘s <a href="https://twitter.com/hashtag/ETF?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#ETF</a> trading volume has began thriving once again here in mid-February. Over $1.8B of trading volume per day is occurring between the 7 most notable ETF’s (GBTC, IBIT, FBTC, ARKB, BTCO, BITB, HODL). Particularly as <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">$BTC</a> crossed above $50K earlier
 (Cont) <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" style="height: 1em; max-height: 1em;"> <a href="https://t.co/4f3ZJjyZLz" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/4f3ZJjyZLz</a>
 — Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1758589344556941354?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" 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 noreferrer nofollow">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" 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

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