New data shows that asset management titan BlackRock has poured more than $10 billion into its spot Bitcoin (BTC) exchange-traded fund (ETF) since launching in January.
According to the research team of crypto exchange BitMEX, BlackRock will be released on March 11 towed over $500 million in its spot market BTC ETF.
Spot market ETFs give investors exposure to an asset without having to purchase it directly. ETFs, which are the top digital assets by market capitalization, were approved by the U.S. Securities and Exchange Commission (SEC) on January 11.
The data from BitMEX shows that the amount of money flowing into Bitcoin ETFs has consistently increased to over $10 billion since the SEC’s approval.
Finally, the crypto exchange explains data showing the cumulative flow of money into BTC ETFs since they went live, showing BlackRock leading by far, followed by Fidelity, Wisdomtree and ARK.
On February 28, BlackRock’s ETF saw record inflows of $612 million.
“Bitcoin ETF Flow – February 28, 2024. All data in. Today was a record inflow day, with a net inflow of $673.4 million. This was driven by BlackRock, which also had a record day, with inflows of $612.1 million.”
Bitcoin is trading at $72,654 at the time of writing.
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