HODL

Bitcoin ETF

Bitcoin

Spot

BlackRock

<img width="1260" height="710" src="https://coingape.com/wp-content/uploads/2024/02/Bitcoin-ETF-2.jpg" class="attachment-full size-full wp-post-image" alt="Spot Bitcoin ETF: IBIT, GBTC &amp; Others Gain In Pre-market Trading" decoding="async" style="float:right; margin:0 0 10px 10px;" srcset="https://coingape.com/wp-content/uploads/2024/02/Bitcoin-ETF-2.jpg 1260w, https://coingape.com/wp-content/uploads/2024/02/Bitcoin-ETF-2-300x169.jpg 300w, https://coingape.com/wp-content/uploads/2024/02/Bitcoin-ETF-2-1224x690.jpg 1224w, https://coingape.com/wp-content/uploads/2024/02/Bitcoin-ETF-2-768x433.jpg 768w, https://coingape.com/wp-content/uploads/2024/02/Bitcoin-ETF-2-678x381.jpg 678w, https://coingape.com/wp-content/uploads/2024/02/Bitcoin-ETF-2-150x85.jpg 150w" sizes="(max-width: 1260px) 100vw, 1260px">
Two major Spot Bitcoin ETFs, BlackRock’s IBIT and Grayscale’s GBTC witnessed a significant surge in the pre-market trading session today. The spike comes after the <a href="https://coingape.com/wall-street-bitcoin-etf-stong-pre-market-gains-btc-price-hit-60k/" target="_blank" rel="noopener">Bitcoin ETFs</a> registered strong inflows on Tuesday. Moreover, their prominent competitors, including VanEck’s HODL and Valkyrie’s BRRR, experienced a notable upswing. 
<h2 id="blackrock-grayscale-bitcoin-etfs-see-a-rally">BlackRock &amp; Grayscale Bitcoin ETFs See A Rally</h2> 
According to&nbsp;<a rel="nofollow" href="https://finance.yahoo.com/quote/IBIT/" target="_blank">Yahoo Finance</a> data, BlackRock’s iShares Bitcoin ETF recorded a gain of 3.90% as it was valued at $33.86 at press time in the pre-market trading session on Wednesday, February 28. Earlier, IBIT closed at $32.59 on Tuesday with a 4.72% profit. The recent rally could be attributed to the impressive inflow figures reported lately. 
While Grayscale’s GBTC surged 3.93%, reaching $52.85 at the time of writing. Moreover, the Bitcoin ETF had noted a significant uptick in the previous trading session. On Tuesday, the <a href="https://coingape.com/shib-army-petition-for-shiba-inu-etf-by-grayscale-what-are-the-odds/" target="_blank" rel="noopener">Grayscale</a> Bitcoin ETF closed at $46.41, losing 0.28% in value. 
In addition, the Ark 21Shares Bitcoin ETF (ARKB) registered a 4.22% increase to $59.55. On the other hand, VanEck’s HODL climbed 2.93% to $66.50 in the pre-market session, setting the stage for a gap up. Furthermore, Valkyrie’s BRRR rose 3.83% to $16.80. Additionally, Invesco Galaxy’s BTCO attracted a gain of 3.77%, settling at $59.25. 
Moreover, Franklin Templeton’s EZBC soared 3.78% to $34.36. However, Hashdex’s DEFI experienced an incline in profits with a 5.04% hike in value, reaching $70.18. Earlier, the Hashdex Bitcoin ETF closed at $66.81, up by 4.24%. 
Also Read:&nbsp;<a href="https://coingape.com/btc-price-59k-blackrock-bitcoin-etf-massive-520m-inflow/" target="_blank" rel="noopener">Breaking: BTC Price Hits $59K as BlackRock Bitcoin ETF Saw Massive $520M Inflow</a> 
<h2 id="strong-inflows-for-blackrock-s-ibit">Strong Inflows For BlackRock’s IBIT</h2> 
Spot Bitcoin ETFs have had a stellar start to the week, with a $520 million influx on Monday followed by another robust $577 million on Tuesday. The surge in inflows, particularly notable for <a href="https://coingape.com/bitcoin-etfs-clock-2-billion-trading-volume-for-second-day-blackrock-sets-new-records/" target="_blank" rel="noopener">BlackRock iShares Bitcoin ETF</a>, signals strong potential for a BTC price rally to $60,000. 
On February 27, Spot Bitcoin exchange-traded funds experienced a substantial net inflow of $577 million (equivalent to 10,167.5 BTC), marking the third-largest influx since their launch. All nine spot Bitcoin ETFs witnessed significant trading activity, underlining heightened investor interest. However, Grayscale’s GBTC saw increased outflows on Tuesday, rebounding to $125.6 million after a brief dip to $22.4 million the day before. 
The BlackRock iShares Bitcoin ETF notably attracted over $520 million, setting a new record for its largest single-day inflow. IBIT also boasted a record-breaking daily trading volume of $1.3 billion, surpassing the trading volume of many large-cap US stocks. With this latest influx, BlackRock’s total net inflow surpassed $6.5 billion, with asset holdings soaring to over 141,000 BTC. 
Other spot Bitcoin ETFs also saw significant inflows, indicating a prevailing bullish sentiment among both retail and institutional investors. Fidelity Bitcoin ETF (FBTC) received $126 million, while Ark 21Shares Bitcoin ETF garnered $5.4 million. Bitwise (BITB), VanEck, and other ETFs in the space also experienced notable increases in investment. 
Despite the overall positive trend, GBTC’s outflow of $125.6 million signaled a divergence from the broader market movement. Bloomberg’s senior ETF analyst Eric Balchunas highlighted that the daily trading volume of the nine new spot Bitcoin ETFs, excluding GBTC, surpassed $2 billion for the second consecutive day, coinciding with BTC’s strong performance above $59,000. 
Also Read:&nbsp;<a href="https://coingape.com/spot-bitcoin-etf-market-data-shows-whales-are-not-backing-down/" target="_blank" rel="noopener">Spot Bitcoin ETF: Market Data Shows Whales Are Not Backing Down</a> 
The post <a href="https://coingape.com/spot-bitcoin-etf-ibit-gbtc-others-gain-in-pre-market-trading/">Spot Bitcoin ETF: IBIT, GBTC &amp; Others Gain In Pre-market Trading</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Spot Bitcoin ETF: IBIT, GBTC & Others Gain In Pre-market Trading

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