BTC bull run gains momentum as Spot Bitcoin ETFs set new all-time high of $680M

Bitcoin exchange-traded funds (ETFs) in the United States experienced a record-breaking daily inflow of $676.8 million, signaling a significant milestone for the ecosystem.
On February 28, spot Bitcoin ETFs attracted investments worth nearly $680 million. Out of the 10 approved players by the U.S. Securities and Exchange Commission (SEC), five were responsible for the daily inflows – iShares Bitcoin Trust ($612.1 million), Fidelity Wise Origin Bitcoin Fund ($245.2 million), Bitwise Bitcoin ETF ($9.9 million), ARK 21Shares Bitcoin ETF ($23.8 million), and WisdomTree Bitcoin ETF ($2.2 million).


Daily capital inflows in U.S. spot Bitcoin ETFs. Source: farside.co.uk
However, the Grayscale Bitcoin Trust experienced outflows of $216.4 million, reducing the total inflows from $893.2 million to $676.8 million. Since February 12, the U.S. spot Bitcoin ETF market has witnessed cumulative inflows of $7,406.9 million. Conversely, the market has seen $7,807.3 million in outflows due to significant events involving Grayscale.


Cumulative inflow of Spot Bitcoin ETF as of February 28. Source: farside.co.uk
As of February 28, iShares remains the largest contributor to Bitcoin ETFs in the U.S., with a total of $7,152.4 million. The total inflow into spot Bitcoin ETFs has reached $7,399 million to date, as indicated above.
Related:
Record-breaking $7.7 billion traded in Spot Bitcoin ETF volumes
Bullish crypto events in one region have a global impact. A recent survey of 2,100 respondents reveals that Australian retail interest in Bitcoin has increased following the approval of spot Bitcoin ETFs in the U.S. in January.
Bitcoin sentiment, which measures current investor sentiment based on trading events and market conditions, in Australia jumped by 25% after the approval of spot BTC ETFs, with adoption rates also experiencing a slight increase in 2024.
Commenting on the rise in positive investor sentiment, Independent Reserve CEO Adrian Przelozny stated, “Sentiment has clearly shifted,” and added, “we have entered a phase of renewed optimism and growth.”
While one-third of respondents expressed interest in long-term Bitcoin investments, there was a divide on whether they preferred accessing Bitcoin through a crypto exchange or ETF.
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