BITCOIN SURGES TO $52K
Bitcoin is on track to reach $50,000, fueled by significant capital inflows into various Bitcoin ETFs.
The trajectory of Bitcoin's price closely aligns with the robust performance and substantial capital influx into ETFs. On February 9, the last trading day of the week, the price surged to $48,200, marking a nearly 6% increase over the course of seven days. This positive trend indicates that Bitcoin approaching the $50,000 milestone is increasingly plausible in the near future, supported by the strong and sustained performance of Bitcoin ETFs.
According to data from BitMEX, capital inflows into Bitcoin ETFs rose from approximately $68 million at the beginning of the week to $541 million by Friday, marking the largest capital inflow since the ETF was traded. BlackRock continues to lead the pack, concluding the week with a capital influx exceeding $250 million. Fidelity and ARK Invest follow closely with capital inflows of $188 million and $136 million, respectively. Grayscale's ETF experienced a record low, with over $51 million in capital inflows in a single day.
Bitcoin ETFs have now accumulated over $10 billion in assets, with BlackRock's iShares Bitcoin Trust and Fidelity's Wise Origin Bitcoin Fund leading the pack, each managing Bitcoin holdings valued at over $3 billion.
