BTC Reaches 48K: Net Inflows of Bitcoin Spot ETF Exceed Four Hundred Million US Dollars
Bitcoin has risen 10% in the past seven days, reaching 48K at 2 am on February 10th, and maintaining a level of 47K before the deadline.
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Bitcoin leads the surge, breaking through 46K, and all top ten cryptocurrencies welcome the Chinese New Year market.
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Bitcoin spot ETF receives $400 million in inflows
According to Bloomberg, it received a total of $405 million on February 8th. GBTC had a net outflow of only $101 million, while BlackRock’s IBIT had a net inflow of $204 million. In terms of trading volume, BlackRock’s IBIT ($480 million) exceeded Grayscale’s GBTC ($370 million), and Fidelity’s FBTC ($245 million) ranked third.
According to Bloomberg, the net inflow performance on February 8th is also the third largest since its launch. As seen from the chart, it has been maintaining a net inflow since January 26th. BlackRock’s IBIT and Fidelity’s FBTC also manage assets worth $3 billion.
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Further reading
Exploring the new era of Bitcoin Layer 2: Order and innovation in chaos
Key events in the cryptocurrency market in 2024: How will Bitcoin’s halving change the state of the crypto industry?
