Bitcoin ETF

Bitcoin

BlackRock

<p class="is-style-lead">Bitcoin ETFs continued to experience hundreds of millions in demand a day after setting a historical high for daily net inflows.&nbsp;</p> 
<p>According to <a href="https://sosovalue.xyz/assets/etf" target="_blank" rel="noreferrer noopener">SoSoValue</a>, spot Bitcoin ETFs marked a 14th consecutive day of net inflows with roughly $339 million on Feb. 14, only $300 million less than the day before. BlackRock claimed the largest inflow of the lot, garnering $224 million, while Fidelity recorded $118 million in net inflows.&nbsp;</p> 
<p>BlackRock and <a href="https://crypto.news/blackrock-and-fidelity-made-best-debut-on-etf-market-in-30-years/" target="_blank" rel="noreferrer noopener">Fidelity</a> are by far the largest new Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) ETF issuers, with $4.8 billion and $3.5 billion, in cumulative inflows since trading was authorized by the U.S. SEC. The two giants command nearly $10 billion in AUM, accounting for over 200,000 BTC acquired by nine issuers for Bitcoin ETFs.</p> 
<p>Experts like crypto lawyer John E. Deaton <a href="https://x.com/JohnEDeaton1/status/1757762927996674488?s=20" target="_blank">tied</a> Bitcoin’s price rally to demand for spot BTC ETFs and massive Bitcoin acquisitions by issuers. </p> 
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   <p lang="en" dir="ltr">Yesterday Pomp was on <a href="https://twitter.com/cvpayne?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@cvpayne</a>’s Making Money show and discussed how the day before, inflows were at 12x the daily supply. The next day (yesterday) inflows reached 14x. Common sense and basic supply &amp; demand economics make it pretty easy to understand what’s happening. At some… <a href="https://t.co/3XmlVtr1F9" target="_blank">https://t.co/3XmlVtr1F9</a></p>— John E Deaton (@JohnEDeaton1) <a href="https://twitter.com/JohnEDeaton1/status/1757762927996674488?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">February 14, 2024</a>
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<p>While <a href="https://crypto.news/blackrock-spot-bitcoin-etf-enters-top-5-us-etps-by-capital-inflow/" target="_blank" rel="noreferrer noopener">BlackRock</a> and Fidelity outclassed competitors, Grayscale’s GBTC ETF saw another net outflow day at $131 million. GBTC has shed over $5 billion since it began trading as an ETF on Jan. 11. The fund remains the largest, holding over $23 billion in AUM.&nbsp;</p> 
<p>Following rulings from a U.S. bankruptcy court, Grayscale may <a href="https://crypto.news/genesis-court-sell-billion-grayscale-gbtc-shares/">offload</a> another $1.6 billion from its GBTC ETF. Judge Sean Lane approved bankrupt crypto lender Genesis to sell 35 million Grayscale shares.&nbsp;</p> 
<p> You might also like: <a href="https://crypto.news/spot-bitcoin-etfs-hit-record-daily-net-inflows-of-631m/"> Spot Bitcoin ETFs hit record daily net inflows of $631m </a> </p> 
<h2 class="wp-block-heading" id="bitcoin-etf-interest-boosts-crypto-market-cap">Bitcoin ETF interest boosts crypto market cap</h2> 
<p>Institutional demand for Bitcoin ETFs has seemingly galvanized broad interest in cryptocurrencies. Bitcoin’s price uptick has coincided with an uptrend in the total cryptocurrency market capitalization.&nbsp;</p> 
<p>The crypto market was worth over $2 trillion as of Feb. 15 per CoinGecko, with BTC accounting for over half of this figure since it reclaimed a trillion-dollar valuation. TradingView data confirmed BTC as the dominant crypto asset, boasting a 53% market share.&nbsp;</p> 
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  BTC dominance | Source: TradingView
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<p> Read more: <a href="https://crypto.news/sec-chair-gary-gensler-criticizes-bitcoin-calls-out-its-role-in-ransomware/"> SEC Chair Gary Gensler criticizes Bitcoin, calls out its role in ransomware </a> </p>

Bitcoin ETFs see 14 consecutive days of net inflows as crypto market cap crosses $2t

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