Bitcoin ETFs Continue to Attract Substantial Investments
Date: 2024-02-17 Author: Dima Zakharov Categories: BLOCKCHAIN
Steady Inflow into Bitcoin ETFs, BlackRock Leads the Pack
For the past 15 days, Bitcoin ETFs have been witnessing a consistent influx of investments. On February 15, the net inflow into these investment products amounted to $477 million, with BlackRock's iShares Bitcoin Trust (IBIT) emerging as the leader in terms of investment volume.
According to data from Soso Value, the net inflow into spot Bitcoin ETFs has been sustained for 15 days, marking a positive trend for cryptocurrency investments. Notably, BlackRock's IBIT received the lion's share of investments, totaling $330.87 million.
Following closely behind is Bitwise Asset Management's spot Bitcoin ETF, which garnered $120.16 million in investments over the past day. Fidelity Investments' ETF secured the third position with $97.43 million in inflows.
However, amidst the positive momentum, two cryptocurrency ETFs stand out. The WisdomTree Investments ETF recorded zero inflows during this reporting period, while Grayscale's product continues to experience outflows.
Grayscale's Bitcoin Trust (GBTC) saw assets decline by $174 million in the last 24 hours alone. Since the approval of spot Bitcoin ETFs by the U.S. Securities and Exchange Commission, GBTC has lost a staggering $6.86 billion. Currently, GBTC manages assets worth $23.59 billion.
As previously reported, BlackRock and Fidelity's spot Bitcoin ETFs have surpassed GBTC in liquidity metrics, further indicating a shift in investor preferences within the cryptocurrency market.
