Spot Bitcoin ETF breaks record with $680 million inflows amid surge in global interest | Cryptocurrency and Blockchain News
Despite the overall bullish trend, Grayscale Bitcoin Trust experienced outflows totaling $216.4 million, offsetting some of its gains. Nonetheless, since February 12, cumulative inflows into U.S. spot Bitcoin ETFs have surged to $7.4 billion. This indicates significant investor interest in the cryptocurrency market.
iShares Bitcoin Trust alone accounted for a significant portion of these inflows, totaling $7.15 billion as of February 28, highlighting its dominance in the ETF space. These developments highlight the growing acceptance and adoption of Bitcoin within traditional financial frameworks.
Internationally, the US approval of a spot Bitcoin ETF has reverberated across global markets. A recent survey conducted in Australia showed a notable increase in retail interest in Bitcoin following the approval of the ETF. Australian investor sentiment for Bitcoin has surged 25%, reflecting renewed optimism and growth trajectory in the cryptocurrency sector.
As Bitcoin continues to gain traction, discussions about investment preferences have emerged. Although a significant portion of respondents expressed interest in investing in Bitcoin long-term, they are divided on whether to access Bitcoin through a cryptocurrency exchange or ETF. This reflects the evolving landscape of digital asset investment strategies.
In summary, record flows into U.S. spot Bitcoin ETFs, coupled with growing international interest, highlight the growing importance of Bitcoin as a mainstream investment asset.