Spot Bitcoin ETFs set a remarkable milestone amidst the escalating Bitcoin bull run

Crypto News– Spot Bitcoin ETFs in the United States registered a record-breaking daily inflow of $676.8 million, marking an all-time high for the ecosystem.

Spot Bitcoin ETFs set a remarkable milestone amidst the escalating Bitcoin bull run

On February 28th, spot Bitcoin ETFs attracted close to $680 million in investments. Out of the ten ETFs approved by the U.S. Securities and Exchange Commission, five contributed to the daily inflows: iShares Bitcoin Trust ($612.1 million), Fidelity Wise Origin Bitcoin Fund ($245.2 million), Bitwise Bitcoin ETF ($9.9 million), ARK 21Shares Bitcoin ETF ($23.8 million), and WisdomTree Bitcoin ETF ($2.2 million). However, Grayscale Bitcoin Trust saw outflows of $216.4 million, reducing the total inflows from $893.2 million to $676.8 million. Since February 12th, the spot Bitcoin ETF market in the U.S. has witnessed cumulative inflows of $7.4 billion. Conversely, the market experienced outflows of over $7.8 billion due to significant events of outflow from Grayscale.

As of February 28th, iShares Bitcoin Trust remains the largest contributor to Bitcoin ETFs in the U.S., with a total of $7.15 billion. The cumulative inflow into spot Bitcoin ETFs has now reached close to $7.4 billion.

The bullish developments in the cryptocurrency market in one region have global repercussions. A recent survey of 2,100 respondents indicates that Australian retail interest in Bitcoin surged following the approval of spot Bitcoin ETFs in the United States in January.

Bitcoin sentiment in Australia increased by 25% following the approval of spot BTC ETFs, with adoption rates also seeing a marginal uptick in 2024. Commenting on the rise in positive investor sentiment, Independent Reserve CEO Adrian Przelozny noted a demonstrable shift in sentiment, signaling a phase of renewed optimism and growth.

While a third of respondents expressed interest in long-term Bitcoin investment, opinions were divided on whether they preferred accessing Bitcoin via a crypto exchange or ETF.