Spot Bitcoin ETFs Surpasses $673M Daily Record Inflows

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The emergence of Spot Bitcoin (BTC) Exchange-Traded Funds (ETFs) has catalyzed a surge in investor interest, with spot BTC ETFs recently hitting a record daily net inflow of $673.4 million. Spearheaded by BlackRock’s IBIT, this milestone surpasses the previous high set on their January 11 launch day, underscoring the growing appeal of cryptocurrency investment vehicles in traditional finance. 

BlackRock’s IBIT Emerged the Frontrunner 

As per data from BitMEX Research, BlackRock spot Bitcoin ETF emerged as the frontrunner in the rapidly expanding landscape of Bitcoin ETFs with $612.1 million inflows. Meanwhile, Fidelity’s FBTC happens to be the second with $245.2 million inflows, and Ark Invest 21Shares’ ARKB had about $23.8 million inflows. The remaining funds generated below $10 million worth of inflows each. 

However, outflows of $216.4 million were recorded from Grayscale’s GBTC fund, which happens to be the largest since January 30. Similarly, VanEck’s HODL product also recorded $3.4 net outflows. Notably, the unprecedented influx of capital into spot Bitcoin ETFs reflects a paradigm shift in investor sentiment towards digital assets, particularly Bitcoin.

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Furthermore, the cumulative net inflows for all spot Bitcoin ETFs now stand at nearly $7.4 billion, highlighting the sustained appetite for cryptocurrencies within the investment community.

BlackRock AUM Exceeds 150k

According to a post by K33 Research analyst Vetle Lunde, the recorded inflow has made BlackRock’s IBIT fund exceed 150,000 BTC ($9.4 billion) under management. On the other hand, the second position is currently held by Fidelity’s FBTC, with over 100,000 BTC ($6.3 million) in assets under management.

As per the data from CoinGlass, the net flows for nine spot ETFs, excluding Grayscale’s converted GBTC fund, now hold over 330,000 BTC in assets under management. Collectively, the Spot BTC ETFs hold 768,280 BTC, with a net inflow of 149,080 BTC since launch.

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Six Days of Inflows in Spot Bitcoin ETFs

This report comes when the US Spot Bitcoin ETF industry recorded six straight days of net positive inflows totaling nearly $715 million. However, the majority of the inflows were recorded in BlackRock and Fidelity’s offerings, as pointed out by BitMEX

Additionally, the six straight days of inflows come after four days of outflows from the spot Bitcoin ETFs between January 22 and 25, when GBTC outflows peaked. Grayscale recorded its second-lowest outflow day on February 2 at $144.6 million.

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