New knowledge reveals that spot market Bitcoin (BTC) exchange-traded fund (ETF) inflows have reached a brand new all-time excessive because the crypto king pushes close to the $64,000 price ticket for the primary time in years.
In line with the analytics arm of crypto trade BitMEX, pushed by asset administration titan BlackRock, Bitcoin ETFs saw over $673 million value of internet influx in only a single day – setting a brand new report.
“Bitcoin ETF Circulation – twenty eighth Feb 2024. All knowledge in. At present was a report influx day, with $673.4 million of internet influx. This was pushed by Blackrock, which additionally had a report day, with $612.1 million of influx.”
Different spot market Bitcoin ETFs that noticed important inflows embrace Constancy, BitWise, and Cathie Wooden’s ARK Make investments, in line with the info. Nevertheless, the info exhibits that Grayscale’s BTC ETF (GBTC) is seeing important outflows – to the tune of a whole bunch of hundreds of thousands of {dollars}.
BitMEX Analysis additionally finds that the whole internet influx of funds into Bitcoin ETFs since they have been authorized by the U.S. Securities and Change Fee (SEC) in mid-January has reached $7.4 billion.
Bitcoin is buying and selling for $62,143 at time of writing, a 1.84% acquire over the past 24 hours. Nevertheless, the flagship digital asset briefly hit $63,600 this morning, a degree it hasn’t seen since 2022.
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