Bitcoin ETFs attract more than $5 billion in net inflows since market debut – CryptoSlate

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The global crypto market cap is $1.93 trillion with a 24-hour volume of $87.39 billion. The price of Bitcoin is $50,942.14 and BTC market dominance is 51.8%. The price of Ethereum is $2,889.26 and ETH market dominance is 18.0%. The best performing cryptoasset sector is Real Estate, which gained 15%.
Despite GBTC’s $7.1 billion outflows, Bitcoin ETFs rally to mark over $5 billion in net inflows.
The financial landscape of Bitcoin ETFs saw considerable inflows on Feb. 20, as reflected in recent data from BitMEX, with an influx of $136 million, the equivalent of 2,606 BTC. BlackRock IBIT is at the helm, with an additional inflow of $154 million, raising BlackRock IBIT’s total net inflows to an impressive $5.5 billion.
BitMEX data shows that GBTC experienced a significant outflow of $137 million, pushing their total net outflows to a staggering $7.1 billion. Since the Bitcoin ETFs started trading on Jan. 11, they have now seen overall net inflows surpass the $5 billion mark.
Adding to this robust financial scenery, Senior Bloomberg ETF Analyst Eric Balchunas highlighted a record-breaking day for ‘The New Born Nine‘. He noted that these funds had their largest volume day since day one, with a combined trading contribution of about $2 billion, significant contributions from Vaneck Bitcoin Trust ETF (HODL), Wisdomtree Bitcoin ETF (BTCW), and Bitwise Bitcoin ETF (BITB), according to Balchunas.
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Eric Balchunas is an American author, ETF analyst, and Senior ETF Analyst at Bloomberg Intelligence.
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