Bitcoin ETFs Attract 4.9 Billion Dollars Despite 7 Billion Dollars GBTC Outflow

Crypto News- BitMEX’s latest data analysis offers a detailed glimpse into the recent movements of Bitcoin within ETFs. The past week witnessed a substantial influx of $331 million into Bitcoin ETFs on Feb. 16 alone, contributing to a weekly net flow of $2.273 billion. This consistent uptrend has been ongoing since Jan. 11, culminating in a total net inflow of $4.926 billion, as per BitMEX’s findings.

Bitcoin ETFs Attract 4.9 Billion Dollars Despite 7 Billion Dollars GBTC Outflow

Notably, BlackRock IBIT emerges as a significant player in driving these inflows, with a substantial contribution of $191 million on Feb. 16, elevating its total inflows to an impressive $5.4 billion. Conversely, GBTC faced significant outflows amounting to $150 million, totaling $7 billion in outflows, according to BitMEX’s data.

In terms of Bitcoin quantities, BitMEX’s report indicates a net inflow of 6,376 BTC on Feb. 16, 44,865 BTC for the week spanning from Feb. 12 to Feb. 16, and a cumulative total of 102,888 BTC since Jan. 11, 2024.

In the realm of cryptocurrency investment, Bytetree’s latest insights provide a compelling narrative: global Exchange-Traded Products (ETPs) currently boast an impressive holding of approximately 947,000 BTC. Notably, this figure has seen a recent surge, with an additional 47,500 BTC injected into these ETPs over the course of the past seven days. Such substantial accumulations underscore the growing prominence of Bitcoin within traditional investment vehicles, signaling increasing confidence and adoption within the broader financial landscape.