Bitcoin ETFs See $405 Million Influx as BTC Crosses $47,500
On February 8th, Bitcoin’s price surged above $47,500, causing a significant influx of $405 million into Bitcoin spot ETFs in the United States, according to BitMEX Research. This inflow, the highest of the week, coincides with the continued rise in the price of Bitcoin, attracting the interest and speculation of investors and enthusiasts.
Notable Contributions from BlackRock and Fidelity
BlackRock (IBIT) and Fidelity (FBTC) are leading the pack in terms of inflows, with BlackRock’s ETF attracting approximately $3.5 billion and Fidelity’s ETF receiving $2.81 billion since their launch. On February 8th, BlackRock recorded an influx of $204.1 million, while Fidelity saw $128.3 million flow into its ETF.
Market Optimism and BTC Price Increase
The announcement of significant inflows into Bitcoin ETFs coincides with a period of increased market optimism, with Bitcoin’s price rising by over 6.5% in the past 24 hours.
Open interest in Bitcoin futures contracts has also increased by 5.5% in the past 24 hours, reaching 444,081 BTC or $20.74 billion, according to CoinGlass data. The CME exchange leads this growth with a 9.79% increase to 117,023 BTC or $5.46 billion.
