- SoSo Value platform SoSo Value has updated its data on spot bitcoin-ETFs.
- The net inflow of funds into the sector exceeded $576 million.
- GBTC continues to see outflows.
On February 27, 2024, net inflows into spot bitcoin-ETFs totaled $576.81 million, according to SoSo Value. Meanwhile, outflows from Grayscale Investments’ GBTC fund increased significantly.
The leader in terms of capital raised remains the IBIT ETF from BlackRock’s subsidiary BlackRock – $520.2 million. In second place is the FBTC fund from provider Fidelity Investments – $126.03 million. For the rest of the products, inflows do not exceed $20 million:
Notably, on February 26, 2024, the outflow from GBTC was $22.37 million. The sharp jump in the figure may be due to profit taking by some investors due to the rapid growth of bitcoin.
The total net inflow into the sector amounted to $6.72 billion. Excluding GBTC – $14.3 billion. The sector is in the “green” zone for the fourth day in a row.
Earlier we reported that on February 26-27, 2024, the volume of trading in spot bitcoin-ETFs exceeded $2 billion. It is the high demand for this category of exchange-traded funds experts called the probable cause of the sharp rise in the price of the first cryptocurrency.
