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Bitcoin ETFs Surge With $631 Million Inflows in 24 Hours: Details Inside

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Wed, 14/02/2024 - 12:25
Bitcoin ETFs Surge With $631 Million Inflows in 24 Hours: Details Inside
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Bitcoin ETFs have witnessed a remarkable surge in investment activity, with a substantial influx of $631 million reported in the past 24 hours. According to data from BitMex Research, eight Bitcoin ETFs collectively accumulated 12,736 BTC during this period, indicating a significant uptick in investor interest.

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Leading the charge is IBIT, the iShares Bitcoin Trust managed by BlackRock, which secured a whopping 9,949.3 BTC, valued at nearly half a billion dollars. Following closely behind, Fidelity made a substantial addition of 3,301.3 BTC to its FBTC ETF, amounting to $163.6 million.

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However, amid this surge, Grayscale recorded a decrease in holdings, cutting 1,469.4 BTC, equivalent to $72.8 million.

The dominance of iShares Bitcoin Trust on the ETF landscape remains apparent, now holding a commanding 105,218.3 Bitcoin, valued at $4.69 billion. In terms of holdings, Fidelity's Wise Origin Bitcoin Fund follows with 76,736.2 BTC, while Bitwise Bitcoin ETF rounds up the top three with 18,909.6 BTC in its portfolio. 

Numbers go up

This influx of investment coincides with a notable surge in the market performance of BTC, with prices surging by over 6.1% today, reaching local highs at $51,686. If buying pressure from spot Bitcoin ETFs continues at current levels, BTC could rise to $112,000 this year, suggested the CryptoQuant CEO earlier this week. 

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BTC to USD by CoinMarketCap

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This surge in inflows underscores the growing mainstream acceptance and investor confidence in Bitcoin and its associated financial instruments.

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