Bitcoin ETFs Attract $2.2 Billion in a Week, Boosting Crypto Market

Bitcoin ETFs have seen a remarkable inflow of $2.2 billion in just one week, according to recent BitMEX Research figures. This surge in investments into Bitcoin exchange-traded funds highlights a growing interest in cryptocurrency as an investment vehicle. Over the week from February 12 to February 16, Bitcoin spot ETFs attracted more than $2.2 billion, setting a record for the most money brought into any exchange-traded product in the U.S. during that period. BlackRock's IBIT was the top performer, drawing in over $1.6 billion, contributing to its total net flows reaching $5.2 billion. Following BlackRock, Fidelity's FBTC and Ark Invest's BTCO also showed significant inflows, with the latter amassing over $1.3 billion since January 11, marking the beginning of spot Bitcoin ETF trading in the U.S.

In contrast, Grayscale's GBTC experienced a net outflow of approximately $623 million in the same week, an increase from the $411 million outflow observed the week before. This shift underscores the varying investor sentiment towards different crypto investment products. The positive impact of these inflows is evident in the cryptocurrency's market performance, with Bitcoin's price climbing to over $52,000 on February 15, its highest in more than two years. This price increase coincides with a growing trading volume among Bitcoin ETFs.

Reports from Santiment indicate a significant rise in trading volume for Bitcoin ETFs since early February. The seven leading spot ETFs saw daily trading volumes exceed $1.8 billion in the first half of the month. This increase in trading activity is linked to the recent spike in Bitcoin's price, surpassing the $50,000 mark. As the cryptocurrency market continues to evolve, the surge in Bitcoin ETF investments and trading volume reflects a broader acceptance and integration of digital assets into traditional investment portfolios.