Bitcoin ETFs Show Steady Demand as BTC Hits New YTD High: Bitfinex

Spot Bitcoin exchange-traded funds have seen steady inflows in the past week, surpassing any other exchange-traded products among the 3,400 trading in the United States.in the new Bitfinex Alpha report that the ETFs recorded net positive inflows exceeding $2.2 billion for the second consecutive week between February 12 and 16. The inflows partiallyMost of the inflows were directed toward BlackRock’s IBIT ETF, which gathered $1.6 billion. The fund alone has accrued $5.

On the other hand, outflows from Grayscale’s GBTC have persisted, with investors withdrawing $624 million in the past week. Bitfinex said the ETF hascapital depletion surpassing $7 billion since the U.S. Securities and Exchange Commission approved its conversion from an over-the-counter product to an ETP in January.a new YTD high, reaching $52,900 for the first time since December 2021. Analysts said only 114 days in 2021 recorded a daily closing price above the new level, representing 2.

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