Two major Spot Bitcoin ETFs, BlackRock\u2019s IBIT and Grayscale\u2019s GBTC witnessed a significant surge in the pre-market trading session today. The spike comes after the Bitcoin ETFs<\/a> registered strong inflows on Tuesday. Moreover, their prominent competitors, including VanEck\u2019s HODL and Valkyrie\u2019s BRRR, experienced a notable upswing.<\/p>\n According to\u00a0Yahoo Finance<\/a> data, BlackRock\u2019s iShares Bitcoin ETF recorded a gain of 3.90% as it was valued at $33.86 at press time in the pre-market trading session on Wednesday, February 28. Earlier, IBIT closed at $32.59 on Tuesday with a 4.72% profit. The recent rally could be attributed to the impressive inflow figures reported lately.<\/p>\n <\/p>\n While Grayscale\u2019s GBTC surged 3.93%, reaching $52.85 at the time of writing. Moreover, the Bitcoin ETF had noted a significant uptick in the previous trading session. On Tuesday, the Grayscale<\/a> Bitcoin ETF closed at $46.41, losing 0.28% in value.<\/p>\n In addition, the Ark 21Shares Bitcoin ETF (ARKB) registered a 4.22% increase to $59.55. On the other hand, VanEck\u2019s HODL climbed 2.93% to $66.50 in the pre-market session, setting the stage for a gap up. Furthermore, Valkyrie\u2019s BRRR rose 3.83% to $16.80. Additionally, Invesco Galaxy\u2019s BTCO attracted a gain of 3.77%, settling at $59.25.<\/p>\n Moreover, Franklin Templeton\u2019s EZBC soared 3.78% to $34.36. However, Hashdex\u2019s DEFI experienced an incline in profits with a 5.04% hike in value, reaching $70.18. Earlier, the Hashdex Bitcoin ETF closed at $66.81, up by 4.24%.<\/p>\n <\/p>\n Also Read:\u00a0Breaking: BTC Price Hits $59K as BlackRock Bitcoin ETF Saw Massive $520M Inflow<\/a><\/strong><\/p>\n <\/p>\n Spot Bitcoin ETFs have had a stellar start to the week, with a $520 million influx on Monday followed by another robust $577 million on Tuesday. The surge in inflows, particularly notable for BlackRock iShares Bitcoin ETF<\/a>, signals strong potential for a BTC price rally to $60,000.<\/p>\n On February 27, Spot Bitcoin exchange-traded funds experienced a substantial net inflow of $577 million (equivalent to 10,167.5 BTC), marking the third-largest influx since their launch. All nine spot Bitcoin ETFs witnessed significant trading activity, underlining heightened investor interest. However, Grayscale\u2019s GBTC saw increased outflows on Tuesday, rebounding to $125.6 million after a brief dip to $22.4 million the day before.<\/p>\n The BlackRock iShares Bitcoin ETF notably attracted over $520 million, setting a new record for its largest single-day inflow. IBIT also boasted a record-breaking daily trading volume of $1.3 billion, surpassing the trading volume of many large-cap US stocks. With this latest influx, BlackRock\u2019s total net inflow surpassed $6.5 billion, with asset holdings soaring to over 141,000 BTC.<\/p>\n <\/p>\n Other spot Bitcoin ETFs also saw significant inflows, indicating a prevailing bullish sentiment among both retail and institutional investors. Fidelity Bitcoin ETF (FBTC) received $126 million, while Ark 21Shares Bitcoin ETF garnered $5.4 million. Bitwise (BITB), VanEck, and other ETFs in the space also experienced notable increases in investment.<\/p>\n Despite the overall positive trend, GBTC\u2019s outflow of $125.6 million signaled a divergence from the broader market movement. Bloomberg\u2019s senior ETF analyst Eric Balchunas highlighted that the daily trading volume of the nine new spot Bitcoin ETFs, excluding GBTC, surpassed $2 billion for the second consecutive day, coinciding with BTC\u2019s strong performance above $59,000.<\/p>\n Also Read:\u00a0Spot Bitcoin ETF: Market Data Shows Whales Are Not Backing Down<\/a><\/strong><\/p>\n <\/p>\n \u2713 Share:<\/p>\nBlackRock & Grayscale Bitcoin ETFs See A Rally<\/h2>\n
Strong Inflows For BlackRock\u2019s IBIT<\/h2>\n
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