According to SoSo Value, net inflows into spot bitcoin ETFs reached $576.81 million by February 7, 2024. At that time, the outflow of funds from the GBTC fund of Grayscale Investments increased significantly.
The IBIT ETF from the BlackRock subsidiary remains the leader in terms of capital raised, reaching $520.2 million. In second place is the FBTC fund from Fidelity Investments with an amount of $126.03 million. The capital inflow into other products does not exceed $20 million.
It is noticeable that on February 26, 2024, the outflow from GBTC reached $22.37 million. This dramatic change may be due to investors taking profits due to the rapid growth of bitcoin.
The total net inflow to the sector amounted to $6.72 billion, and excluding GBTC — $14.3 billion. The sector has been in the "green" zone for the fourth day in a row.
It was previously reported that on February 26-27, 2024, the trading volume for spot bitcoin ETFs exceeded $2 billion. Experts call the high demand for this category of exchange-traded funds a likely reason for the sharp rise in the price of the first cryptocurrency
