So, guess what? The US spot Bitcoin exchange-traded funds decided to throw a party on Feb. 28 with a whopping $94.3 million inflow! 🎉 After eight days of sulking in the corner, Bitcoin finally perked up, inching its way back toward the glamorous $85,000 mark. Who knew it had it in it?
Leading the charge were the ARK 21Shares Bitcoin ETF (ARKB) and Fidelity Wise Origin Bitcoin Fund (FBTC), strutting in with $193.7 million and $176 million in net inflows, respectively. Farside Investors data shows they were basically the prom queens of the Bitcoin ball. 👑
Now, let’s talk numbers: ARKB and FBTC’s combined $369.7 million inflow was like a superhero swooping in to save the day, easily covering the $244.6 million outflow from BlackRock’s iShares Bitcoin Trust ETF (IBIT). Meanwhile, the Bitwise Bitcoin ETF (BITB) and the Grayscale Bitcoin Mini Trust ETF (BTC) managed to scrape together $4.6 million and $5.6 million in net inflows. Not exactly a standing ovation, but hey, every little bit counts, right?
In a plot twist, the Bitcoin products from Invesco, Franklin, Valkyrie, and WisdomTree were like that kid at the party who didn’t get invited—registering a big fat “0” in inflows. Meanwhile, the VanEck Bitcoin ETF and Grayscale’s Bitcoin Trust ETF (GBTC) were busy bleeding outflows like it was a horror movie. 😱
But hold your horses! While the eight-day streak of doom was finally broken, that $94.3 million net inflow barely made a dent in the $3.26 billion outflow that happened between Feb. 18 and 27. Talk about a dramatic comeback that still needs a little work!
Feb. 25? Oh, that was the day of reckoning, with a record $1.13 billion in outflows for US Bitcoin products. Ouch! 😬
And just when you thought it couldn’t get worse, Bitcoin’s price took a nosedive of 17.6% from Feb. 18, hitting a near four-month low of $78,940 on Feb. 28. But don’t worry, it’s bounced back to $86,165. It’s like watching a soap opera—just when you think it’s over, it comes back for another season!
Now, here’s the kicker: despite the rocky start to the year, the spot Bitcoin ETFs have recorded a net outflow of about $300 million since Jan. 10, 2025. That’s right, folks, it’s been a year since these Bitcoin products launched, and it’s been a wild ride!
But wait! Industry experts like Bitwise’s chief investment officer Matt Hougan are saying it’s the “best time in history” to buy Bitcoin while it’s hanging around the $80,000 to $90,000 range. Sounds like a sale, right? 🛒
“This is the moment of greatest opportunity for crypto,” said Jake Chervinsky, chief legal officer at Variant, pointing out that the regulatory environment is getting friendlier and TradFi interest is on the rise. So, grab your popcorn, folks, because this show is just getting started!
Read More
- How to watch A Complete Unknown – is it streaming?
- INJ PREDICTION. INJ cryptocurrency
- USD VES PREDICTION
- LDO PREDICTION. LDO cryptocurrency
- EUR HUF PREDICTION
- RLC PREDICTION. RLC cryptocurrency
- IP PREDICTION. IP cryptocurrency
- CAKE PREDICTION. CAKE cryptocurrency
- USD MXN PREDICTION
- JTO PREDICTION. JTO cryptocurrency
2025-03-02 05:22