ETF Gains Day 5: 38.45 Million Dollar Inflows Witnessed

Crypto News – On February 1, Bitcoin spot ETFs saw a total net influx of $38.45 million, marking the fifth straight day of net inflow in the market’s persistent bull run.

ETF Gains Day 5: 38.45 Million Dollar Inflows Witnessed

Leading market analytics platform SoSoValue‘s data shows a lot of movement in the ETF space as investors swarm to invest in the biggest cryptocurrency in the world.

Notably, despite the generally upward trend, there was a $182 million net outflow in a single day for Grayscale’s GBTC. The injection of money into other Bitcoin spot ETFs, with a net inflow of $220 million into the remaining nine ETFs, more than made up for this.

Interest in Bitcoin Continues to Grow

According to the most recent data, the price of Bitcoin was $43,154, which represents a significant rise of 1.34% over the previous day. This rising trend shows that institutional and ordinary investors continue to find Bitcoin to be a compelling asset class.

The recent spike in inflows into Bitcoin spot ETFs highlights how cryptocurrencies are becoming more and more accepted in the established financial system. ETFs provide institutional investors with an easy and regulated way to enter the crypto market as their desire for exposure to digital assets grows.