Record $541 Million Inflow into BTC Spot ETFs in a Day
Date: 2024-02-11 Author: Dima Zakharov Categories: BLOCKCHAIN
Record Inflow Signals Growing Interest
According to data analyzed by cryptocurrency journalist Colin Wu, February 9, 2024, witnessed an unprecedented surge in net inflow to Bitcoin spot ETFs, reaching a staggering $541 million. This surge represents a historic high, excluding the ETF's inaugural trading day. The positive momentum has now extended for 11 consecutive days, signaling a growing interest in cryptocurrency ETFs among investors.
Notable Trends and Statistics
Wu highlighted that the net outflow from Grayscale ETF GBTC reached a record low of $51.81 million in a single day since its transformation into a spot ETF. BitMEX Research also published statistics indicating a net inflow of $541.5 million into BTC ETFs. Additionally, analysts noted a significant outflow from non-GBTC ETFs, with BTCO from Invesco recording a $17.4 million net outflow. Blackrock's IBIT led with an inflow of $250.7 million, followed by Fidelity's FBTC with $188.4 million, and Ark Invest's ARKB with a record $136.5 million in inflows in a day.
Market Overview
As of February 10, 2024, Bitcoin's price remained steady around $47,350, with a market capitalization of $927.19 billion and daily trading volumes reaching $288.19 billion. Bitcoin's dominance in the market surpassed 52.1%. The Fear & Greed Index stagnated at 74 out of 100, indicating positive sentiments among industry participants.
Understanding the Fear & Greed Index
The Fear & Greed Index serves as a tool to gauge market sentiments and emotions. It analyzes various factors, including price, trading volumes, volatility, social media trends, and other data points. The index helps assess whether investors and traders are experiencing fear or greed concerning the current BTC market conditions.
