Cryptocurrency markets continue to surge, led by Bitcoin, with the ETF sector being the primary driver. Accordingly, spot Bitcoin exchange-traded funds (ETFs) in the United States recorded a total daily inflow of $676.8 million, marking a new all-time high for the ecosystem. On February 28th, spot Bitcoin ETF funds received approximately $680 million in investments.
ETF Sector Hits New Record
Daily inflows into 10 ETF funds approved by the US Securities and Exchange Commission are attributed to five of them: iShares Bitcoin Trust with $612.1 million, Fidelity Wise Origin Bitcoin Fund with $245.2 million, Bitwise Bitcoin ETF with $9.9 million, ARK 21Shares Bitcoin ETF with $23.8 million, and WisdomTree Bitcoin ETF with $2.2 million.
However, Grayscale Bitcoin Trust recorded an outflow of $216.4 million, reducing the total inflow from $893.2 million to $676.8 million. Since February 12th, the spot Bitcoin ETF market in the US has recorded a total inflow of $7,406.9 million. In contrast, due to the significant outflows from Grayscale, the market experienced a loss of $7,807.3 million.
The contribution of iShares’ Bitcoin ETF funds in the US remains the highest at $7,152.4 million as of February 28th. The total inflow into spot Bitcoin ETF funds has reached $7,399 million to date, as shown above.
Eye-Catching Survey in Australia
Rising crypto events in one region resonate worldwide. A recent survey involving 2,100 participants indicates that the approval of spot Bitcoin ETF funds in the US in January has increased the interest of Australian individual investors in Bitcoin.
Bitcoin sentiment in Australia, which determines current investor sentiment based on trading activities and market conditions, increased by 25% following the approval of spot Bitcoin ETFs, with adoption rates also marginally increasing in 2024.
Speaking about the rise in positive investor sentiment, Independent Reserve CEO Adrian Przelozny noted a clear shift in sentiment, pointing to a renewed optimism and phase of growth. One-third of survey participants showed interest in long-term investment in Bitcoin, while opinions varied on whether they would prefer to access Bitcoin through a crypto exchange or ETF.
