US Bitcoin Spot ETFs experienced a resurgence in market inflows after a long period of massive outflows amid a deep price correction. The positive net inflow last week was the first in six trading weeks, five of which resulted in net outflows of $3.8 billion. It’s worth noting that the rise in ETF returns is independent of Bitcoin’s price action, which institutional investors can position for a possible market recovery.
Bitcoin Spot ETFs end February on a red note, despite a late surge
According to data from SoSoValue, investors poured more than $787.31 million into Bitcoin Spot ETFs between February 23 and 27, marking a positive end to a very tumultuous trading month. Despite this late market rally, February still reported a net outflow of $206.52 million, marking the fourth consecutive monthly negative.
In terms of the last trading week, BlackRock’s IBIT recorded an impressive $502.99 million deposit, which is a big part of strong investor activity. The undisputed market leader now boasts a total net inflow of $61.81 billion over the past 28 months of trading. Interestingly, Grayscale’s GBTC came in second with total inflows of around $89.43 million and remains the third largest Bitcoin Spot ETF with net assets of $10.29 billion.
Meanwhile, Bitwise’s BITB also recorded a stellar performance with net inflows of $68.30 million, the first in three weeks of trading. FBTC’s Fidelity, Grayscale’s BTC, Ark Invest/21 Shares and VanEck’s HODL also had significant net savings of between $19 million and $34 million. On the other hand, Invesco’s BTCO and Franklin Templeton’s EZBC recorded minimal net inflows of around $2 million – $3 million, while Hashdex’s DEFI, WisdomTree’s BTCW and Valkryie’s BRRR reported zero flows.
At the time of writing, the Bitcoin Spot ETF net worth is $54.80 billion, while total net assets are now worth $83.40 billion, representing 6.36% of Bitcoin’s market cap. Meanwhile, Bitcoin continues to trade at $66,504.55, reflecting a 3.82% gain over the past day.
Ethereum Spot ETFs Record First Green Performance in 6 Weeks
Along with their Bitcoin counterparts, Ethereum Spot ETFs have also seen a change in investor activity over the past week. More data from SoSoValue shows that these mutual funds registered a total of $80.46 million to end a five-week losing streak that began in mid-January. The aggregate inflows for Ethereum ETFs are currently valued at $11.60 billion, while the net assets are valued at $10.96 billion.
Featured image from Finst, chart from Tradingview
Editing process because bitcoinist is committed to delivering thoroughly researched, accurate and unbiased content. We adhere to strict sourcing standards and every page is rigorously reviewed by a team of top technology experts and experienced editors. This process ensures the integrity, relevance and value of our content to our readers.
