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:
. Источник: SoSo Value. ” class=”wp-image-209560″ srcset=”https://incrypted.com/wp-content/uploads/2024/02/etf.png 1073w, https://incrypted.com/wp-content/uploads/2024/02/etf-300×123.png 300w, https://incrypted.com/wp-content/uploads/2024/02/etf-1024×421.png 1024w, https://incrypted.com/wp-content/uploads/2024/02/etf-768×316.png 768w” sizes=”(max-width: 1073px) 100vw, 1073px”>Inflow/outflow of capital into spot Bitcoin ETFs. Source: SoSo Value
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.
BitcoinBTC
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.
We previously reported that on February 26-27, 2024, trading volume for spot Bitcoin ETFs exceeded $2 billion. Experts named the high demand for this category of exchange-traded funds as the likely reason for the sharp increase in the price of the first cryptocurrency.
Experts named the reasons for the sharp increase in the price of Bitcoin
Isla MacKenzie covers Web3 culture, NFTs and the metaverse from Edinburgh. A former product writer at Sky and CodeBase, she has been on the BTCNews team since 2022 and runs our weekly Creators newsletter. Isla studied Digital Humanities at the University of Edinburgh and was named one of CityAM's '30 Under 30 in Crypto' in 2024. She writes about culture without losing sight of the underlying tech.
Bitcoin BTC
Capital inflow/outflow into spot Bitcoin ETFs. Source: SoSo Value