Spot Bitcoin ETF inflows have outpaced the amount of production from miners by over ten times over the past two trading days.
Spot Bitcoin exchange-traded funds (ETFs) scooped up ten times more Bitcoin (BTC) than what miners were able to produce on Monday.
According to preliminary figures, at least $493.4 million or roughly 10,280 BTC net inflowed into spot Bitcoin ETFs as of Feb. 12.
BlackRock’s IBIT saw the lion’s share with a huge $374.7 million inflow. Meanwhile, Fidelity’s FBTC fund saw a $151.9 million inflow, and there was $40 million for Ark 21Shares’ ARKB fund. This was slightly offset by Grayscale outflows of $95 million and $20.8 million from Invesco’s BTCO, though net inflow was almost half a billion dollars.
