In only one month, the spot Bitcoin ETF market has reportedly broken a record that took gold almost two years to achieve.<\/span><\/p>\n According to Senior Bloomberg ETF analyst Eric Balchunas, the net cumulative flows for the spot BTC ETFs approved by the United States Securities and Exchange Commission (SEC), have exceeded $3 billion within the last three days. This was after the nascent niche registered about $500 million worth of inflows on February 12.\u00a0<\/span><\/p>\n <\/p>\n The chart that accompanied Balchunas\u2019 post on X showed that as of January 14, the net flows had not even hit $1 billion.\u00a0<\/span><\/p>\n Overall, the broader spot BTC ETF market has been doing well. Apart from Grayscale\u2019s GBTC, nine of the spot Bitcoin ETF products are gradually inching toward a cumulative of $10 billion in inflows. In addition, the <\/span>interest in spot Bitcoin ETFs<\/span><\/a> is also growing exponentially. Based on an opinion shared on CNBC\u2019s Squawk Box by Anthony Pompliano, a well-known cryptocurrency advocate, there is a burgeoning interest from Wall Street in Bitcoin.<\/span><\/p>\n <\/p>\n He revealed that institutional investors are buying into the spot Bitcoin ETF deal at a rate that is 12.5 times greater than its daily production. This surge in demand has triggered a shortage in supply. The increased interest is believed to be a result of the upcoming Bitcoin halving event set for April this year.<\/span><\/p>\n <\/p>\n Before Monday\u2019s inflow and just when Bitcoin was nearing $49,000, all ten spot BTC ETF products <\/span>saw a net inflow<\/span><\/a> of $541.5 million. Of these massive inflows, BlackRock (IBIT),\u00a0Fidelity\u00a0(FBTC), and\u00a0Ark 21Shares\u00a0(ARKB) Bitcoin ETF recorded the largest inflows of $250.7, $188.4, and $136.5 million, respectively.\u00a0<\/span><\/p>\n <\/p>\n Grayscale is still experiencing outflows although in recent days, the intensity has slowed down. At a time, the volume decreased significantly to <\/span>about $51.8 million<\/span><\/a> but it has now returned to near normalcy. A few days ago, GBTC outflows touched $101.6 million suggesting another mass exodus from the spot Bitcoin ETF.<\/span><\/p>\n Amidst this fluctuation, Bitcoin price has been showing signs of a bull run after soaring as high as $50,300 overnight, although it has slightly dropped in the last few hours. At the time of this writing the coin was trading at $48,597.95 with a 0.81% drop within the past 24 hours.<\/span><\/p>\n <\/p>\n \u2713 Share:<\/p>\n <\/a><\/p>\n <\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n <\/p>\n Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter<\/a>, Linkedin<\/a> <\/p><\/div>\n<\/p><\/div>\nSpot Bitcoin ETF Net Flow Hits $3B<\/strong><\/h2>\n
Grayscale Outflows Makes a Switch<\/strong><\/h2>\n
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