Both individual and institutional investors rushed to purchase spot Bitcoin ETFs as BTC price surged nearly 7% to above $48,000 on Friday. BTC price extends its upward momentum after Friday’s options expiry, registering a 12% surge in the past three days.
Spot Bitcoin ETFs Witnessed $542 Million Inflow
As per the most recent Bitcoin ETF inflow data, the new nine and Grayscale’s GBTC spot BTC- ETF observed a net influx of $542 million on Friday, as United States investors succumb to FOMO before the market closes.
BlackRock (IBIT), Fidelity (FBTC), and Ark 21Shares Bitcoin ETF documented the largest influxes of $250.7 million, $188.4 million, and $136.5 million, respectively. Bitwise (BITB), VanEck (HODL), and others also experienced substantial inflows. However, Invesco Galaxy Bitcoin ETF (BTCO) saw a $17.4 million outflow.
Bitcoin ETF Flow – 9th Feb
All data out. Strong day at $541.5m of net inflow
Invesco had an outflow, the first non-GBTC product to have an outflow day pic.twitter.com/UCFDVAaKD3
— BitMEX Research (@BitMEXResearch) February 10, 2024
Significantly, GBTC experienced a $51.8 million outflow, marking the least outflow day yet for Grayscale’s spot Bitcoin ETF. Bloomberg ETF analyst James Seyffart responded to the decline in GBTC outflow as the market anticipates a paradigm shift in the spot BTC-ETF market. GBTC net outflow ascends to $6.38 billion.
BlackRock and Fidelity lead all Bitcoin ETFs
Net influx for spot Bitcoin ETF since inception, excluding GBTC, surpasses $9 billion. BlackRock and Fidelity Wise Origin ETFs lead with $3.7 billion and $3 billion inflows, respectively. BTC price climbs beyond $48,000, with high chances of surpassing $50,000, aligning with a significant $405 million flows into spot Bitcoin ETFs on Thursday. The sentiment is optimistic, as indicated by the Fear and Greed index value of 66, which indicates greed.
Cryptocurrency equities like Coinbase (COIN) and MicroStrategy (MSTR) commenced over 6%, and Robinhood Markets (HOOD) increased 2% amid BTC price surge, concluding significantly higher. Coinbase concluded 7.12% higher at $141.99, and MicroStrategy finished 9.95% higher at $646.32 on Friday.
About BTC ETFs
Bitcoin ETF is a stock market trading instrument, equivalent to shares, but based on the value of the BTC cryptocurrency. ETF stands for exchange-traded funds, that is, assets traded on the exchange. BTC price is currently trading at $47,102, trimming some gains due to profit-taking by traders in the last 24 hours. Meanwhile the 24-hour low and high indicators were between $46,136 and $48,152, respectively. Additionally, trading volume has surged by over 30%. Traders, particularly in the U.S., anticipate a continuous surge until the US CPI data release on February 13.
