In a surprising demonstration of investor confidence and market resilience, BlackRock’s Bitcoin exchange-traded fund (ETF) IBIT has arose as a prominent player amid a surge of interest across the sector. According to data provided by SoSoValue, the ETF recorded an impressive single-day net inflow of $224.3 million on February 14, positioning it at the forefront of the Bitcoin spot ETF market.
In a surprising demonstration of investor confidence and market resilience, BlackRock’s Bitcoin exchange-traded fund (ETF) IBIT has arose as a prominent player amid a surge of interest across the sector. According to data provided by SoSoValue, the ETF recorded an impressive single-day net inflow of $224.3 million on February 14, positioning it at the forefront of the Bitcoin spot ETF market.
This notable influx is part of a broader trend This has seen total Bitcoin spot ETF net inflows reach $339.81 million on the same day, extending an unbroken streak of net inflows to 14 consecutive trading days. As of February 14, the total cumulative net inflow of these ETFs stands at an impressive $4.23 billion, with total net assets valued at $36.77 billion.
In contrast to IBIT’s success, some ETFs have faced challenges. Grayscale ETF (GBTC) and Invesco ETF (BTCO) reported net outflows of $131.15 million and $37.51 million, respectively, highlighting the competitive and volatile nature of the investment landscape. investment in cryptocurrencies.
Broader trend
The remarkable performance of BlackRock’s IBIT is not an isolated phenomenon. Fidelity’s FBTC also posted significant gains, with a single-day net inflow of $118.93 million and a total all-time net inflow of $3.56 billion. These figures underscore investors’ growing appetite for Bitcoin and cryptocurrency-related financial products.
The rise in ETF inflows coincides with an uptrend in the Bitcoin market itself. The price of Bitcoin has shown remarkable resilience and growth, currently priced at $52,292. This represents a 2.07% increase in the last 24 hours and an impressive 22.80% increase in the last 30 days.
These developments indicate growing recognition of Bitcoin and other cryptocurrencies as viable investment assets, attracting both retail and institutional investors. The success of BlackRock’s IBIT, in particular, highlights the important role that established financial institutions play in the cryptocurrency space, providing a bridge for traditional investors looking to diversify into digital assets.
