Capital inflows into spot Bitcoin ETFs reach $576 million

• The SoSo Value platform has updated data on spot Bitcoin ETFs.
• The net inflow of funds into the sector exceeded $576 million.
• GBTC continues to experience outflows.

On February 27, 2024, net inflows into spot Bitcoin ETFs amounted to $576.81 million, according to SoSo Value. At the same time, the outflow of funds from Grayscale Investments’ GBTC fund has increased significantly.

ETF IBIT from a subsidiary of BlackRock remains the leader in terms of the volume of raised capital – $520.2 million. In second place is the FBTC fund from the provider Fidelity Investments – $126.03 million. For other products, the inflow does not exceed $20 million:

Notably, on February 26, 2024, the outflow from GBTC was $22.37 million. The sharp jump in the indicator may be due to some investors taking profits due to the rapid growth of Bitcoin.

Bitcoin BTC

Price:

$61,919

8.8%

24h Volume:

$39.2b

Buy

Total net inflow into the sector amounted to $6.72 billion. Excluding GBTC – $14.3 billion. The sector is in the green zone for the fourth day in a row.

. Источник: SoSo Value. ” class=”wp-image-209561″ srcset=”https://incrypted.com/wp-content/uploads/2024/02/etf-2.png 1045w, https://incrypted.com/wp-content/uploads/2024/02/etf-2-300×134.png 300w, https://incrypted.com/wp-content/uploads/2024/02/etf-2-1024×459.png 1024w, https://incrypted.com/wp-content/uploads/2024/02/etf-2-768×344.png 768w” sizes=”(max-width: 1045px) 100vw, 1045px”>Inflow/outflow of capital into spot Bitcoin ETFs. Source: SoSo Value

We previously reported that on February 26-27, 2024, trading volume for spot Bitcoin ETFs exceeded $2 billion. It was the high demand for this category of exchange-traded funds that experts called the likely reason for the sharp increase in the price of the first cryptocurrency.

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