{"id":72555,"date":"2024-02-29T08:13:23","date_gmt":"2024-02-29T12:13:23","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=72555"},"modified":"2024-02-29T08:13:26","modified_gmt":"2024-02-29T12:13:26","slug":"bitcoin-bull-run-triggers-new-ath-for-spot-bitcoin-etfs","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bitcoin-bull-run-triggers-new-ath-for-spot-bitcoin-etfs\/","title":{"rendered":"Bitcoin Bull Run Triggers New ATH for Spot Bitcoin ETFs"},"content":{"rendered":"\n

Following Bitcoin's recent bull run, spot Bitcoin exchange-traded funds<\/a> (ETFs) in the United States have set a new all-time high (ATH) for the ecosystem with a cumulative daily inflow of $676.8 million.<\/p>\n\n\n\n

\"Bitcoin
Bitcoin Bull Run Triggers New ATH for Spot Bitcoin ETFs<\/figcaption><\/figure>\n\n\n\n

Investments in spot Bitcoin ETFs totaled approximately $680 million on February 28. 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 <\/a>($2.2 million) are the five funds account for daily inflows among the ten funds approved by the U.S. Securities and Exchange Commission.<\/p>\n\n\n\n

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Daily capital inflows in U.S. spot Bitcoin ETFs. Source:\u00a0farside.co.uk<\/figcaption><\/figure>\n\n\n\n

Conversely, the outflows the Grayscale Bitcoin Trust\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> recorded amounted to $216.4 million, reducing the overall inflows from $893.2 million to $676.8 million. <\/p>\n\n\n\n

The spot Bitcoin ETF market in the United States has recorded cumulative inflows of $7.4 billion since February 12. At the opposite end of the spectrum, significant outflows from Grayscale have cost the market more than $7.8 billion.<\/p>\n\n\n\n

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Spot Bitcoin ETF cumulative inflow as of Feb. 28. Source:\u00a0Source: farside.co.uk<\/figcaption><\/figure>\n\n\n\n

As of February 28, the iShares contribution to Bitcoin ETFs in the United States remains the highest at $7.15 billion. As shown previously, the cumulative inflow into spot Bitcoin ETFs has approached $7.4 billion to date.<\/p>\n\n\n\n

Bullish cryptocurrency events that occur in one region have a global impact. In the wake of the United States' January approval of spot Bitcoin ETFs, Australian retail interest in Bitcoin has increased, according to a recent survey of 2,100 respondents.<\/p>\n\n\n\n

A metric that gauges present investor sentiment<\/a> in Australia in relation to Bitcoin, predicated on market conditions and trading events, experienced a 25% surge after the sanction of spot BTC ETFs. Adoption rates for Bitcoin have also increased marginally since 2024.<\/p>\n\n\n\n

Adrian Przelozny, chief executive officer of Independent Reserve, remarked regarding the increase in optimistic investor sentiment, “Sentiment has unmistakably shifted,” adding, “We have entered a period of renewed optimism and expansion.”<\/p>\n\n\n\n

A divided opinion existed regarding whether they would instead access Bitcoin through an ETF or a cryptocurrency exchange, although one-third of respondents were interested in long-term Bitcoin investments.<\/p>\n","protected":false},"excerpt":{"rendered":"

Following Bitcoin’s recent bull run, spot Bitcoin exchange-traded funds (ETFs) in the United States have set a new all-time high (ATH) for the ecosystem with a cumulative daily inflow of $676.8 million. Investments in spot Bitcoin ETFs totaled approximately $680 million on February 28. iShares Bitcoin Trust ($612.1 million), Fidelity Wise Origin Bitcoin Fund ($245.2 […]<\/p>\n","protected":false},"author":12,"featured_media":72560,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83],"tags":[7297,605,18608],"class_list":["post-72555","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-spot-bitcoin-etf","tag-ath","tag-bitcoin-bull-run"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/02\/image-108.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/72555","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=72555"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/72555\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/72560"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=72555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=72555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=72555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}