March 28, 2024
Bitcoin ETF Inflows Surge, Last 4 Days Outpace Initial 4 Weeks
Bitcoin ETF

Bitcoin ETF Inflows Surge: Last 4 Days Outpace Initial 4 Weeks

Spot Bitcoin exchange-traded funds (ETFs) have experienced a surge in net inflows over the last four days, surpassing the total inflows seen in the first four weeks of trading. Data from the Bitcoin tracking platform Apollo indicates that the 10 spot Bitcoin ETFs attracted 43,300 Bitcoin in the recent four-day period, valued at $2.3 billion at current prices. This rapid accumulation contrasts with the 42,000 Bitcoin inflows gathered over 20 trading days.

In a noteworthy development, four spot Bitcoin ETFs, excluding Grayscale, have achieved “billionaire club” status, with the Bitwise Bitcoin ETF joining the ranks on February 14.

Nate Geraci, the president of the ETF Store, particularly commends Bitwise’s performance, highlighting it as the most impressive among crypto-native investment funds. However, other ETFs such as BlackRock’s iShares Bitcoin Trust, Fidelity’s Wise Origin Bitcoin Trust, and Cathie Wood’s Ark 21Shares Bitcoin Trust had already reached the billion-dollar milestone.

While some ETFs have attained significant AUM, such as BlackRock’s iShares Bitcoin Trust, which surpassed $5 billion in AUM on February 13, others, including Invesco, VanEck, Valkyrie, and Franklin Templeton, are yet to breach the $500 million mark in assets under management (AUM). According to Apollo’s data, WisdomTree’s Bitcoin Trust currently lags with just $23 million in AUM.

The positive momentum in spot Bitcoin ETF flows is widely perceived as a key driver behind Bitcoin’s recent price rally, which saw it breach the $50,000 mark on February 12.

Image By Sketchepedia

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