Bitcoin ETFs See $331M Inflow

Current value stands at $51,663, with expectations of further increases fueled by expanding Bitcoin ETF adoption.

The total net inflow of the spot Bitcoin ETF on February 16 was $331 million, according to data from SoSoValue. Upon further examination of the data retrieved from the analysis hub, it is evident that investors have successfully generated the inflow for a continuous span of sixteen trading days.

Bitcoin ETFs and Market Impact

It is imperative to highlight that BlackRock’s IBIT is unique among the Bitcoin ETFs listed on SoSoValue.

The data from the platform indicates that IBIT recorded a net inflow of $191 million on February 16th. Additionally, SoSoValue discloses that the historical net inflow for IBIT has amounted to $5.36 billion.

It is worth mentioning that nine out of ten spot Bitcoin ETFs listed on SoSoValue exhibited favorable returns, signifying a substantial influx of capital into ETFs.

With a net historical inflow of $3.77 billion and a February 16 inflow of $116 million, FBTC ranked second among ETFs with positive inflows, followed by IBIT.

The positive inflows into spot Bitcoin ETFs are a logical consequence of the increasing uptake of the recently authorized products.

Moreover, its impact on the general acceptance of the principal cryptocurrency is demonstrated by the fortuitous surge in the value of Bitcoin over the past sixteen days.

On February 1, Bitcoin (BTC) recovered from a low of $41,859 to initiate a sustained ascent, during which the pioneering cryptocurrency surpassed new annual milestones.

According to TradingView data, Bitcoin surged 26%, exceeding substantial resistance and the psychological threshold of $50,000.

t is worth noting that the Bitcoin rally transpires at the exact moment when SoSoValue documents the historical inflow. As a result, the reported performance of the newly introduced ETFs on the price of Bitcoin is given some weight.

As of the time of writing, Bitcoin was valued at $51,663, according to data from TradingView. Users anticipate additional price increases as the adoption of ETFs expands, among other pertinent factors.