On February 13th, Bitcoin ETFs attracted $631 million, setting a new record for capital inflow into Bitcoin exchange-traded funds (ETFs). The inflow of funds has been increasing over the last 13 trading days. Including the Grayscale Bitcoin Trust (GBTC) exchange fund, the assets under their management exceeded 693,000 bitcoins worth $35.7 billion.
Demand for Bitcoin-based exchange-traded funds continues to grow despite a $72.8 million outflow from Grayscale as of the trading day on February 13th.
The inflow of funds into the nine leading Bitcoin ETFs, including BlackRock (IBIT), Fidelity (FBTC), Bitwise (BITB), Ark 21Shares (ARKB), Invesco (BTCO), VanEck (HODL), Valkyrie (BRRR), Franklin Templeton (EZBC), and WisdomTree (BTCW), amounted to $704 million.
The inflow of funds into the iShares Bitcoin Trust (IBIT) from BlackRock is increasing. On just one trading day, February 13th, the BlackRock ETF attracted $493 million, which accounted for 70% of the total daily inflow into Bitcoin ETFs. According to the official website, the asset volume of IBIT from BlackRock consists of 95,000 bitcoins worth $4.4 billion.
Just a month after launch, the assets of nine spot Bitcoin-based exchange-traded funds (ETFs) exceeded 200,000 BTC, or $9.5 billion. They own almost 1% of the total number of bitcoins at 21 million, which is more than MicroStrategy, Tether, and all public Bitcoin miners combined.
One way or another, the purchase of Bitcoin by exchange ETFs has started to directly affect the price of the first cryptocurrency. Currently, miners extract only 900 bitcoins daily, totaling $46.8 million. GreyScale sells about $80 million more. And other exchange ETFs are buying ten times more Bitcoin.
New coins can only come from miners or from weak hands. The fear and greed indicator was at an extreme level over the last 24 hours, but this did not help to cool the market. Bitcoin reached a capitalization of over $1 trillion and has already stormed the $52,000 mark, breaking the December 2021 high. Those who regretted not selling then can make up for lost time and sell now.
But most will not do this because greed is now stronger than fear. The wise wait for $18K, but as practice has shown, fear and greed equally strongly control both the wise and the not-so-wise.