Despite outflows from GBTC, spot Bitcoin ETFs experience a surge as British investors inject £403 million into the market.

On the same day as the third-largest inflow for spot BTC ETFs, Bitcoin’s price surged past $46,000, reaching a fresh multiweek peak, coming within £2,000 of new yearly highs.

On February 8th, spot Bitcoin exchange-traded funds (ETFs) saw their third-largest surge, totaling £403 million. This significant inflow occurred despite over £100 million exiting the Grayscale Bitcoin Trust (GBTC). Since their introduction on January 11th, total inflows into spot Bitcoin ETFs have exceeded £2.1 billion, indicating strong demand for BTC in the market.

This notable inflow coincided with Bitcoin’s price surpassing $46,000, reaching a fresh multiweek high, coming close to new yearly highs by just £2,000. Leading the ETF flow chart is BlackRock iShares Bitcoin Trust (IBIT), which saw an inflow of £204 million, followed by Fidelity with £128 million, ARK 21Shares with £86 million, and Bitwise with £60 million. The remaining seven ETFs collectively received £27 million in inflows, while GBTC recorded another £102 million in outflows.

IBIT also achieved the distinction of being the first ETF to surpass GBTC’s daily trading volume. However, the total trading volume of all 11 spot Bitcoin ETFs dipped below £1 billion for the first time since their inception.

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