
Bitcoin Spot ETFs are experiencing spectacular popularity among investors. Led by BlackRock’s IBIT ETF, they saw net inflows of $2.2 billion during the week of February 12-16, 2023.
$2.2 billion in 7 days, the incredible surge in Bitcoin ETFs
Bitcoin-focused exchange-traded funds (ETFs) had a strong week, with net inflows exceeding $2.2 billion between February 12 and 16. Their combined volume surpassed the inflows of any of the other 3,400 ETFs available in the United States, according to Bloomberg analyst Eric Balchunas.
This record collection highlights the growing attraction of investors for the crypto market. It also marks the rise of specialized Bitcoin ETFs.
Without a doubt, the IBIT ETF of BlackRock wins like the darling of the moment. It alone accumulated net inflows of $1.6 billion over the week, capturing almost three-quarters of total flows. Since its launch in January, this flagship fund has already attracted $5.2 billion, or half of the cumulative net inflows of BlackRock’s 417 ETFs.
This resounding success reflects the growing appetite of institutional investors to gain exposure to bitcoin via regulated investment vehicles. Unlike previous funds like Grayscale’s GBTC, these new ETFs offer daily liquidity, reduced fees and security of assets with the best custodians.
This dynamic also benefits other big names in the sector. Over the week, Fidelity, Ark 21Shares and Bitwise attracted more than $1.2 billion in new capital. These four asset management giants now hold more than $12.3 billion under management.

An adoption that boosts the price of BTC
This massive influx of capital into bitcoin ETFs is one of the factors explaining the spectacular rise in the prices of the queen of cryptos in recent months. BTC is currently trading around $51,000, up 24% since the beginning of February and 91% over the last four months.
The approval of the first spot Bitcoin ETFs by the SEC on January 10 triggered a sharp positive turnaround in market sentiment. Investors see this as an encouraging signal regarding the growing adoption of crypto-assets within the traditional financial system.
This upward trend could well continue throughout 2024 with the arrival of new players in this juicy emerging Bitcoin ETF market. In a recent letter to the SEC, several Wall Street pundits have also called for regulatory relaxation to act as custodians of these funds, which would further amplify the current frenzy.
With these tempting prospects, there is no doubt that these products offering simplified access to Bitcoin are set to break new adoption records among individual and institutional investors in the months to come.
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