Bitcoin

Spot

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/spot-bitcoin-etfs-draw-major-inflows-while-gbtc-suffers-outflows" rel="noopener noreferrer nofollow">Spot Bitcoin ETFs Draw Major Inflows While GBTC Suffers Outflows</a><br></p>
<p style="text-align: justify">Recent data from SoSoValue has highlighted a significant inflow into spot <a href="https://en.bitcoinhaber.net/significant-whale-transfers-to-central-exchange-stir-curiosity-among-crypto-investors" rel="noopener noreferrer nofollow">Bitcoin</a> exchange-traded funds (ETFs), with a substantial $251 million net gain on February 22. This surge attests to the growing investor confidence and interest in cryptocurrency-focused ETFs despite the volatile nature of the digital asset market. Nevertheless, Grayscale’s spot ETF, formerly known as GBTC, experienced a net outflow of $55.67 million on the same day, suggesting a contrasting investor sentiment regarding this particular fund.</p>
<h2 id="contrasting-trends-in-bitcoin-etfs">Contrasting Trends in Bitcoin ETFs</h2>
<p style="text-align: justify">In contrast to GBTC’s outflow, Fidelity’s FBTC enjoyed a substantial influx of $158 million, pushing its total net inflow to a robust $4.05 billion. Similarly, BlackRock’s IBIT saw a net addition of $125 million, totaling a net inflow of $5.74 billion. These figures underscore the demand for spot Bitcoin ETFs and their importance in cryptocurrency market dynamics. Even with Bitcoin’s price seeing downward trends, these ETFs are proving to be a popular choice for investors aiming for direct exposure to the leading digital currency.</p>
<p style="text-align: justify">Experts explain the persistent outflows from GBTC as a result of hefty fund management fees and earlier investors seeking to secure profits following the fund’s transformation. This has contributed to the relatively negative performance of GBTC since its opening on January 11.</p>
<h2 id="bitcoin-s-market-performance">Bitcoin’s Market Performance</h2>
<p style="text-align: justify">Despite the positive momentum in spot Bitcoin ETFs for 19 consecutive days, Bitcoin itself has been trading within a restricted price range. For the past days, it has been fluctuating between $50,600 and $53,000. Current trading positions reveal Bitcoin at a price of $51,218, reflecting a minor decline of 0.59% over the last day, a 2.03% drop over the past week, yet it has gained an impressive 32.50% in the last month as per CoinMarketCap data.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/spot-bitcoin-etfs-draw-major-inflows-while-gbtc-suffers-outflows" rel="noopener noreferrer nofollow">Spot Bitcoin ETFs Draw Major Inflows While GBTC Suffers Outflows</a></h5>

Spot Bitcoin ETFs Draw Major Inflows While GBTC Suffers Outflows

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