Bitcoin ETF is Eating Up the World

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  • Bitcoin ETFs inflows snowball: Last 4 days bigger than first 4 weeks
  • Gold ETFs bleed $2.4B so far in 2024 as Bitcoin ETFs hit record volumes
  • BlackRock’s Bitcoin ETF passes 100K BTC under management



ETFs are eating the world. They ate every other asset class, and they’re having Bitcoin for dessert. 


Bitcoin ETFs inflows snowball: Last 4 days bigger than first 4 weeks

Spot Bitcoin exchange-traded funds (ETFs) have attracted more net inflows in the last four days than in the entire first four weeks of trading. 

The 10 spot Bitcoin (BTC) ETFs have had 43,300 Bitcoin — worth $2.3 billion at current prices — in inflows over the last four days alone. 

Comparatively, the funds took 20 days of trading to gather 42,000 in Bitcoin inflows.

Notably, on Feb. 13, BlackRock’s iShares Bitcoin Trust became the first Bitcoin ETF to surpass $5 billion in assets under management, holding a total of 105,280 BTC at the time of writing.

The bullishness around spot Bitcoin ETF flows has been viewed by many market participants as a key driving force behind Bitcoin’s recent rally, which saw its price breach $50,000 on Feb. 12.

https://cointelegraph.com/news/bitcoin-etf-inflows-last-four-days-bigger-than-first-month




Gold ETFs bleed $2.4B so far in 2024 as Bitcoin ETFs hit record volumes

The 14 leading gold ETFs have seen outflows of $2.4 billion so far in 2024.

On the other hand, the 10 approved spot Bitcoin (BTC) ETFs have seen aggregate inflows of $3.89 billion and record volume since their launch on Jan. 11.

“Not only is Bitcoin sucking up funds, but gold is hemorrhaging AUM at an alarming rate across many ETFs,” commented portfolio manager Bitcoin Munger.




The divergence has been exacerbated by falling gold prices in 2024. The commodity has lost 3.4% since the beginning of the year, falling to a two-month low of $1,993 per ounce on Feb. 14.

Meanwhile, Bitcoin prices have increased 23.5% over the same period, with the asset hitting a two-year high of $52,483 on Feb. 14.

Bitcoin and gold have often been compared for their shared store of value properties and their choice as go-to investments during times of economic and geopolitical turmoil.



BlackRock’s Bitcoin ETF passes 100K BTC under management

According to official data by BlackRock, IBIT amassed 105,280 BTC in holdings on Feb. 13. 

The iShares Bitcoin Trust became the first spot Bitcoin ETF in the United States to reach 100,000 BTC in managed assets on the 22nd day of trading.

BlackRock has multiplied the iShares Bitcoin Trust’s holdings by more than 3,700% since debuting IBIT in January, as its assets under management have grown from just 2,621 BTC on Jan. 11 to 100,000 BTC on Feb. 13.

According to data from Farside Investors, combined daily inflows from 10 spot Bitcoin ETFs (on Feb. 13) totaled $631.3 million, with $493 million flowing to the iShares Bitcoin ETF alone.

On Feb. 14, Bitcoin reclaimed its $1-trillion asset status, reaching such market capitalization for the second time in history.

Amid the ongoing rally, the Crypto Fear & Greed Index has been hitting levels not seen since Bitcoin reached its all-time high at $69,000 in mid-November 2021.

https://cointelegraph.com/news/blackrock-bitcoin-etf-holds-100k-btc








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