Bitcoin spot tickers are down to $51,929, but exchange-traded funds (ETFs) have witnessed a surge in net inflows over the past four days compared to the entire first four weeks. According to data from Bitcoin tracking platform Apollo, ten spot Bitcoin ETFs have attracted 43,300 Bitcoin in inflows, equivalent to $2.3 billion at current prices, in just the last four days. This stands in stark contrast to the 20 days it took for these funds to accumulate a similar amount of Bitcoin inflows.
Four spot Bitcoin ETFs, excluding Grayscale, have recently attained billion-dollar status. Bitwise’s Bitcoin ETF (BITB) became the latest to achieve this milestone on Feb. 14, marking it as the only crypto-native investment fund among the top providers. Nate Geraci, president of the ETF store, praised Bitwise’s performance as the most impressive.
Bitwise was outpaced in reaching billion-dollar status by BlackRock’s iShares Bitcoin fund, Fidelity’s Wise Origin, and Cathie Wood’s Ark21 Shares fund. Other ETFs such as Invesco, VanEck, Valkyrie, and Franklin Templeton are yet to breach the $500 million assets under management (AUM) mark.
WisdomTree’s Bitcoin Trust lags behind other Bitcoin ETFs, with just $23 million in AUM according to Apollo data.
BlackRock’s iShares ETF (IBIT) became the first Bitcoin ETF to surpass $5 billion in assets under management on Feb. 13, now holding a total of 105,280 BTC.
Many market participants perceive the surge in spot Bitcoin ETF flows as a significant driver behind Bitcoin’s recent rally, which saw its price exceed $50,000 on Feb. 12.
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