Coin Edition -
- On Tuesday, BTC exchange-traded funds saw a positive net flow of over $631 million.
- On the previous day, ETF inflows hovered around $493 million.
- The positive inflow coincided with Bitcoin’s reclaiming of the $50k threshold.
The research team at the BitMEX exchange has called attention to the considerable amount of funds that flowed into Bitcoin exchange-traded funds (ETFs) yesterday as Bitcoin reclaimed the $50k threshold.
In a post on X, BitMEX Research noted that February 13 saw a positive net flow of $631 million to BTC-based investment vehicles across all ETF issuers. Among the U.S.-listed ETFs, BlackRock’s IBIT experienced the most significant influx. Specifically, BlackRock recorded over $493 million on Tuesday, followed by Fidelity at $163.6 million.
Records of flows to Bitcoin spot ETFs since January| BitMEX Research
Similarly, Bitwise Bitcoin ETF witnessed an inflow of $10.8 million, and Ark Invest recorded $35 million. However, other funds, such as Invesco, Franklin, Valkyrie, and VanEck, registered zero inflow. Concurrently, Grayscale experienced a significant negative growth of $72.8 million.
Overall, the net influx of $631 million into Bitcoin-based investment vehicles on Tuesday reflects a 21% growth from the $493.3 million figure recorded on Monday. Notably, in BTC figures, the disclosure suggested that the spot exchanged traded funds consumed 12,735 Bitcoin tokens.
This uptrend coincided with Bitcoin cracking the $50k range yesterday, with the asset trading at $51,254 at press time.
Meanwhile, a separate report by crypto asset manager CoinShares outlined the weekly movement of funds through cryptocurrency-based investment products. The report revealed inflows of $1.115.9 billion over the past week. CoinShares mentioned that the figure contributed to year-to-date inflows amounting to $2.7 billion.
Significantly, Bitcoin accounted for nearly 98% of the inflows, totaling $1.089 billion, according to CoinShares. Additionally, minor inflows were observed in Avalanche (AVAX), Polygon (MATIC), and Tron (TRX), which collectively recorded approximately $1.3 million.
The post $631 Million Enters Bitcoin ETFs as Price Cracks $50k, BlackRock Leads the Charge appeared first on Coin Edition.