Spot Bitcoin (BTC) ETFs witnessed a substantial influx of approximately $2.3 billion last week, nearly doubling the previous week’s inflow of $1.2 billion.
These inflows accounted for almost half of the total net inflow since the inception of BTC ETFs, which currently stand at approximately $5 billion.
According to Matteo Greco, research analyst at digital asset investment firm Fineqia International, the growing demand for BTC ETFs has fueled Bitcoin’s surge last week, which saw the leading cryptocurrency gain around 8% to close at approximately $52,150.
In a note shared with Cryptonews.com, Greco said that the positive net inflows have remained consistent for 16 consecutive trading days since January 26.
However, there was a slight increase in outflows from the Grayscale Bitcoin ETF (GBTC) last week, reaching around $625 million.
This indicates a rise in profit-taking by investors following the recent surge in BTC’s price.
The embrace of index funds and ETFs for passive investment suggests that many “investors” have strayed from their core principle: the active allocation of capital.
— Pierre Rochard (@BitcoinPierre) February 19, 2024
Among the ETFs launched on January 11, the Blackrock Bitcoin ETF (IBIT) leads the pack with over $5 billion in assets under management (AUM), totaling around $6.2 billion.
The Fidelity BTC ETF (FBTC) follows closely in second place with approximately $4.5 billion AUM, while the 21Shares & ARK Bitcoin ETF (ARKB) secures the third position with roughly $1.5 billion AUM.
Additionally, the Bitwise Bitcoin ETF (BITB) crossed the $1 billion AUM milestone, reaching around $1.2 billion AUM.
The trading volume of BTC ETFs remained robust, reaching approximately $9.6 billion cumulatively last week, with a