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In a striking demonstration of investor confidence and market resilience, BlackRock's Bitcoin exchange-traded fund (ETF), IBIT, has emerged as a standout performer amid a sector-wide surge in interest. According to data provided by SoSoValue, the ETF notched an impressive single-day net inflow of $224.3 million on Feb. 14, positioning it at the forefront of the Bitcoin spot ETF market.
This notable influx is part of a broader trend that has seen the total net inflow for Bitcoin spot ETFs reach $339.81 million on the same day, extending an unbroken streak of net inflows to 14 consecutive trading days. As of Feb. 14, the cumulative total net inflow for these ETFs stands at an impressive $4.23 billion, with total net assets valued at $36.77 billion.
In contrast to the success of IBIT, some ETFs have faced challenges. The Grayscale ETF (GBTC) and Invesco's ETF (BTCO) reported net outflows of $131.15 million and $37.51 million, respectively, highlighting the competitive and volatile nature of the cryptocurrency investment landscape.
Broader trend
The remarkable performance of BlackRock's IBIT is not an isolated phenomenon. Fidelity’s FBTC also reported significant gains, with a single-day net inflow of $118.93 million and a total historical net inflow of $3.56 billion. These figures underscore the increasing investor appetite for Bitcoin and cryptocurrency-related financial products.
The surge in ETF inflows coincides with a bullish trend in the Bitcoin market itself. The price of Bitcoin has shown remarkable resilience and growth, currently priced at $52,292. This represents a 2.07% increase over the last 24 hours and an impressive 22.80% uplift over the past 30 days.
These developments signal a growing recognition of Bitcoin and other cryptocurrencies as viable investment assets, attracting both retail and institutional investors. The success of BlackRock's IBIT, in particular, highlights the significant role that established financial institutions play in the cryptocurrency space, providing a bridge for traditional investors looking to diversify into digital assets.
Alex Dovbnya
Yuri Molchan
Dan Burgin
Vladislav Sopov