Bitcoin ETFs Reach New All-Time High of $680M

The US witnessed a surge in spot Bitcoin ETFs hitting an all-time high with daily inflows of $676.8M attributed to five approved securities.

Spot Bitcoin ETFs in the United States reported a cumulative daily inflow of $676.8 million, reaching an all-time high (ATH) for the Bitcoin ecosystem. This marked a new high for the ecosystem.

Five Spot Bitcoin ETFs Approved In US

On February 28, spot Bitcoin ETFs attracted investments totaling roughly $680 million. The daily inflows are attributed to five of the securities that the United States Securities and Exchange Commission has approved.

These five players are the iShares Bitcoin Trust ($612.1 million), the Fidelity Wise Origin Bitcoin Fund ($245.2 million), the Bitwise Bitcoin ETF ($9.9 million), the ARK 21Shares Bitcoin ETF ($23.8 million), and the WisdomTree Bitcoin ETF ($2.2 million).

The Grayscale Bitcoin Trust’s loss of $216.4 million reduced the total amount of money brought in from $893.2 million to $676.8 million. Since February 12th, the spot Bitcoin exchange-traded fund (ETF) market in the United States has experienced cumulative inflows of $7.4 billion.

On the other hand, the market has suffered a loss of more than $7.8 billion due to significant outflow events from Grayscale. As of February 28th, iShares’s contribution to Bitcoin ETFs in the United States is still the greatest, coming in at $7.15 billion.

Investors have poured nearly $7.4 billion into spot Bitcoin ETFs so far. Bullish cryptocurrency events in a single location have global implications.

Following the introduction of spot Bitcoin exchange-traded funds (ETFs) in the United States in January, a recent study that included 2,100 respondents reveals that the level of interest in Bitcoin among retail investors in Australia has surged.

The introduction of the spot Bitcoin exchange-traded fund (ETF) in Australia resulted in a 25% spike in Bitcoin sentiment, a metric that assesses current investor attitudes based on trading events and market conditions.

Furthermore, adoption rates will increase marginally in 2024. Mr. Adrian Przelozny, the Chief Executive Officer of the Independent Reserve, stated that “sentiment has demonstrably shifted,” and he went on to say that “we’ve entered a phase of renewed optimism and growth.”

This was about the surge in favorable investor sentiment. Despite expressing an interest in investing in Bitcoin over the long run, one-third of the respondents were divided on whether they preferred to access Bitcoin through a cryptocurrency exchange or an exchange-traded fund (ETF).