The broad crypto market is regaining momentum, and the positive trend has extended to the U.S. spot Bitcoin ETF, with major Bitcoin funds seeing fresh growth.
On Wednesday, Feb. 25, data from SosoValue shows that the Bitcoin ETF recorded a strong resurgence in demand, as it has posted $506.51 million in daily net inflows over the last trading session.
The massive inflow has come after multiple weeks of little-to-no demand from investors due to prolonged volatility. Nonetheless, this rapid resurgence suggests that institutional appetite has been boosted alongside Bitcoin’s latest rally to $69,150.
BlackRock drives over 58% of total capital
While it has maintained its position as a key player in the Bitcoin ETF sector, BlackRock has achieved the highest inflow among the pack, accounting for over 58% of the total inflow recorded on the same day.
As such, BlackRock (IBIT) led the inflow with a total of $297.37 million in fresh capital, being more than half of the day’s total, bringing its total net assets to $52.50 billion.
Nonetheless, it is important to note that the positive flip spanned all major Bitcoin funds as Grayscale (GBTC) followed as the top two, recording $102.49 million in inflows.
Fidelity Investments’s FBTC brought in $30.09 million, and Bitwise Asset Management attracted $39.37 million.
Furthermore, the ARKB fund managed jointly by ARK Invest and 21Shares added just $2.29 million, while VanEck’s HODL ETF posted $15.61 million in inflows.
Bitcoin surges near $70,000
Following the major price resurgence seen over the last day, which sparked the renewed interest seen across Bitcoin ETFs, Bitcoin had traded extremely near the $70,000 level during the period.
While the level was last seen earlier this month, Bitcoin has continued to trade far below the level over the past weeks as bearish sentiment reached peak levels.
Nonetheless, the market saw a wave of fresh interest over the last day, this saw Bitcoin surge by over 4.05% in the last 24 hours, seeing its price trade at $68,175 as of writing time.
Dan Burgin
Vladislav Sopov
