- Spot Bitcoin ETFs see $331 million net inflow on February 16.
- BlackRock’s IBIT ETF records $191 million one-day inflow, $5.36 billion total.
- Bitcoin price rises 26%, surpasses $50,000 amid ETF investment surge.
SoSoValue’s data indicates that on February 16, the net inflow for spot Bitcoin ETFs amounted to $331 million. Additional scrutiny of data from the analysis center shows that investors have sustained this inflow for 16 straight trading days.
It’s important to point out that among the spot Bitcoin ETFs listed on SoSoValue, BlackRock’s IBIT is particularly noteworthy. According to the data from the platform, on February 16, IBIT experienced a net inflow of $191 million in just one day. Additionally, SoSoValue’s data indicates that the total net inflow for IBIT historically has amounted to $5.36 billion.
Significantly, nine of the ten Bitcoin ETFs traded on the SoSoValue exchange showed gains, indicating a substantial amount of money being invested into these ETFs. The ETF named IBIT had the highest positive cash inflows, with FBTC coming in second, which saw an inflow of $116 million on February 16 and a total historical inflow of $3.77 billion.
Rationally, the increase in investments into the spot Bitcoin exchange-traded funds indicates an expanding acceptance of these recently sanctioned offerings. Moreover, this has influenced the broader acceptance of the leading digital currency, as demonstrated by the simultaneous rise in Bitcoin’s value over the past 16 days.
On February 1, BTC recovered from a low of $41,859 and began a consistent upward trend, reaching new highs for the year. According to TradingView information, Bitcoin
Significantly, the surge in Bitcoin’s value occurred simultaneously with the substantial influx documented by SoSoValue. Therefore, this lends a certain level of importance to the recently introduced Bitcoin ETFs’ impact on the cryptocurrency’s price.
At the moment of this report, Bitcoin’s trading price was $51,663, as per the information from TradingView, and there is an expectation of its value rising more as the ETF acceptance expands along with other significant elements.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
