Unprecedented Surge in Bitcoin ETFs Could Drive BTC Prices to $112K

By: Isha Das

Investment Surge in Bitcoin ETFs

Recent data suggests a remarkable surge in Bitcoin exchange-traded funds (ETFs). Compiled information from Farside Investors reveals that net inflow of funds reached a staggering $542 million on a single day, February 9. Among them, BlackRock's IBIT saw a net inflow of $251 million, pushing its total to a hefty $3.8 billion and increasing their Bitcoin holdings to 87,779.

Following closely, Fidelity's FBTC and Ark Invest's ARKB also witnessed significant inflows. FBTC eclipsed $3 billion in net inflow with an additional $188 million, while ARKB drew in $137 million. On the other hand, GBTC experienced net outflows of -$52 million, even though the overall net inflows exceeded $2.7 billion.

Since their launch nearly a month ago, spot bitcoin ETFs have amassed more than 192,000 bitcoin in holdings, hinting towards a favorable market for BTC in this year.