Spot Bitcoin exchange-traded funds (ETFs) in the United States experienced a record-setting daily inflow of $676.8 million, signaling a significant milestone for the ecosystem.
On February 28, spot Bitcoin ETFs attracted nearly $680 million in investments. Out of the 10 players approved by the U.S. Securities and Exchange Commission (SEC), five ETFs were responsible for the daily inflows: iShares Bitcoin Trust ($612.1 million), Fidelity Wise Origin Bitcoin Fund ($245.2 million), Bitwise Bitcoin ETF ($9.9 million), ARK 21Shares Bitcoin ETF ($23.8 million), and WisdomTree Bitcoin ETF ($2.2 million).
Despite these positive numbers, the Grayscale Bitcoin Trust experienced $216.4 million in outflows, resulting in a decrease in total inflows from $893.2 million to $676.8 million. Since February 12, the spot Bitcoin ETF market in the U.S. has seen a cumulative inflow of $7,406.9 million. However, major outflow events from Grayscale have led to a loss of $7,807.3 million in the market.
As of February 28, iShares remains the leading contributor to Bitcoin ETFs in the U.S., with a total of $7,152.4 million. The total inflow into spot Bitcoin ETFs has reached $7,399 million to date.
Additionally, a survey of 2,100 respondents revealed that Australian retail interest in Bitcoin has increased following the approval of spot Bitcoin ETFs in the U.S. in January. Bitcoin sentiment in Australia, which measures current investor sentiment based on trading events and market conditions, saw a 25% boost after the spot BTC ETF approval. Adoption rates also saw a slight increase in 2024.
CEO of Independent Reserve, Adrian Przelozny, commented on the rise in positive investor sentiment, stating that “Sentiment has demonstrably shifted,” and that “we’ve entered a phase of renewed optimism and growth.”
While a third of respondents expressed interest in long-term Bitcoin investment, there was a split in preferences for accessing Bitcoin, with some leaning towards crypto exchanges and others favoring ETFs.
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