Summary
TLDR: US spot bitcoin ETFs saw near-record weekly net inflows, totaling $2.24 billion, as BTC’s price reached new highs. The 10-fund category now has more assets under management than the Grayscale Bitcoin Trust ETF. The positive momentum of the ETFs is fueling BTC’s price action and driving institutional involvement in holding and trading BTC. Crypto investment products overall hit a record $94.4 billion in assets under management, with net inflows reaching nearly $2.7 billion in a week.
Key Points
1. US spot bitcoin ETFs had nearly equalled the weekly net inflow record set last month as BTC’s price reached new highs.
2. The 10-fund US spot bitcoin ETF category brought in $2.24 billion last week, matching the combined $2.27 billion of net money entering the funds from Feb. 12 to Feb. 16.
3. The launch of bitcoin ETFs has transformed the market structure by providing institutions with easy and regulated entry points into crypto, fueling BTC’s price action and pushing assets under management within crypto investment products to a record $94.4 billion.