Bitcoin ETF

Bitcoin

Grayscale Bitcoin Trust

<p>Bitcoin spot exchange-traded funds have been online in the US for only two months, but their performance<a href="https://www.newsbtc.com/bitcoin-news/bitcoin-etfs-threaten-golds-dominance-as-digitalization-trends-gain-momentum/" rel="noopener noreferrer nofollow"> has far eclipsed any other asset class</a>. These ETFs recently hit a new milestone, drawing over $2.2 billion in inflows last week alone, shattering the previous weekly record <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-etf-approval-triggers-1-2-billion-trading-volume-and-new-highs-for-btc-price/" rel="noopener noreferrer nofollow">set on the first week</a> of trading. This is a particularly noteworthy development because, as senior Bloomberg analyst Eric Balchunas pointed out, this inflow skyrocketed past the 3,400 plus ETFs available in the US, like the SPLG US and the SPY US.&nbsp;</p>
<h2 id="bitcoin-etf-inflows-surge-amid-competition">Bitcoin ETF Inflows Surge Amid Competition</h2>
<p><a href="https://www.newsbtc.com/coinbase/coinbase-custody-accounts-for-90-of-all-bitcoin-etfs-details/" rel="noopener noreferrer nofollow">Bitcoin ETFs</a> have fully captured the interest of institutional investors, with trading volume indicating their appealing nature. Trading volume statistics reveal these 10 ETFS have been experiencing a great deal of activity since their launch, netting more than $2.3 billion last week alone to bring the total inflow to $4.926 billion since they went live. As pointed out by Eric Balchunas, the significant inflow last week puts the ETFs above more established ETFs in the United States.</p>
<blockquote class="twitter-tweet">
 <p dir="ltr" lang="en">The 10 bitcoin ETFs netted +$2.3b last week. For context, that is more than any other ETF (out of 3,400) took in. <a href="https://twitter.com/search?q=%24IBIT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$IBIT</a> alone was #2. This brings total net to +$5b, which is more than BlackRock as a whole has taken in. Again, this is all net GBTC bleed. Throw that out and the… <a href="https://t.co/PlxnfQ7ETf" rel="noopener noreferrer nofollow">https://t.co/PlxnfQ7ETf</a> <a href="https://t.co/04LTixd3Zt" rel="noopener noreferrer nofollow">pic.twitter.com/04LTixd3Zt</a></p>
 <p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1758845246924783973?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 17, 2024</a></p>
</blockquote>
<p>Notably, most of this inflow went into BlackRock’s iShares Bitcoin Trust (IBIT), which has outperformed the nine other Bitcoin ETFs and ETFs of other asset classes. <a href="https://www.newsbtc.com/news/bitcoin/blackrocks-ibit-maintains-lead-in-bitcoetf-market-crosses-2-billion-in-inflows/" rel="noopener noreferrer nofollow">IBIT accumulated</a> $1.673 billion in net inflows throughout the week, making it the third-largest inflow among any of the 3,500 plus exchange-traded funds.&nbsp;</p>
<p>At the close of last week’s trading session, BlackRock’s IBIT has received a $5.2 billion net inflow since its launch. Notably, this amounts to 50% of the investment company’s net inflow of $10.4 billion from its 417 ETFs since the beginning of the year.&nbsp;</p>
<p>It’s important to note that these staggering inflow numbers have come amidst an ongoing outflow from the Grayscale Bitcoin Trust ETF (GBTC). While outflows from the ETFs have slowed down <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-etfs-experience-day-12-reversal-gbtc-selling-slows-fidelity-and-blackrock-garner-400-million/" rel="noopener noreferrer nofollow">compared to recent weeks</a>, the GBTC witnessed $624 million in outflows during the week. “Again, this is all net GBTC bleed,” Balchunas noted.</p>
<h2 id="btc-bullish-price-momentum-set-to-continue">BTC Bullish Price Momentum Set To Continue</h2>
<p>Bitcoin’s price has skyrocketed over 33% in the past 30 days, recently topping $52,000 per coin for the first time since 2021. Current price action shows Bitcoin has <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-rally-52800/" rel="noopener noreferrer nofollow">somehow stabilized</a> around this price point, with the crypto trading between $52,700 and $50,700 in the past five days. At the time of writing, Bitcoin is trading at $52,307.</p>
<p>However, the fear of missing out on further gains is driving many new investors to Bitcoin ETFs. <a href="https://twitter.com/RhinoBTCapp/status/1757842949377872242?s=20" rel="noopener noreferrer nofollow">According to an analyst</a>, inflows into these ETFs are on track to reach $150 billion by the end of 2025. With <a href="https://www.newsbtc.com/bitcoin-news/52000-and-climbing-bitcoin-eyes-new-highs-this-march-predicts-top-firm/" rel="noopener noreferrer nofollow">a new all-time high </a>now looking plausible, Bitcoin is set to continue on its price gain as spot ETF trading commences throughout the week.</p>

Bitcoin Spot ETFs: Issuers Set New Record As Weekly Inflows Cross $2.2 Billion

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