The crypto investment vehicle achieved an eye-watering peak, following an astonishing net inflow totaling $631.23 million into Bitcoin spot ETFs on February 13. This not only etched a new record in the history annals of Bitcoin ETFs but also was the thirteenth trading day of net inflows in a row, signaling continued appetite for exposure to the digital asset.
As the numbers roll in, the data paints a vivid picture of investor sentiment and market dynamics. As of February 13th, the cumulative total net inflow had reached $3.89 billion, while the total value traded had amounted to $1.58 billion. One could, therefore, easily see that the allure of Bitcoin ETFs continues to captivate the market participants.
While other funds were filled with joy from rising inflows, the Grayscale ETF GBTC saw something different—a one-day net outflow of $72.83 million. Odd as it seemed, this did little to dampen the positive outlook. Other ETFs had a significant net inflow. Notably, the BlackRock ETF IBIT shined with a one-day net inflow of $493 million—more than others—forming a large part of the daily influx.
X (Twitter) became a battleground of insights, experts, and analysts sharing thoughts on evolving events. Lookonchain, in a post, offered a brief rundown of the day’s hustle-bustle, spotlighting the inclusion of 12,073 BTC ($590 million) in 8 ETFs, led by iShares (Blackrock) and Fidelity with notable Bitcoin purchases.
Bloomberg’s Senior ETF Analyst, Eric Balchunas, also shared his thoughts. He focused on the swift and impressive growth of $IBIT. In just 23 trading days, it climbed to top-tier ETF levels. This quick rise and durability of this newcomer shows how fast cryptocurrency investment are changing.
Bitcoin Price Rally
Meanwhile, when it comes to Bitcoin price analysis, recently, BTC investors have been rewarded for their patience and conviction, with BTC prices rallying to multi-year highs above $50k. It’s been another positive and strong year for Bitcoin investors as market trading to new multi-year highs puts a YTD return at +18.5%.
As per Glassnode, only 141 days during 2021 have seen a daily closing price higher than $50.2k, which represents just 2.84% of Bitcoin trading history. Bitcoin is also up +130% over the last 12 months and over +207% since the Nov 2022 lows and is now trading just -28.6% below its ATH.
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