BCGAME - Free 5BTC Daily Bonus!In a move that highlights Wall Street's growing fascination with Bitcoin, spot Bitcoin Exchange Traded Funds (ETFs) captured an amount of Bitcoin ten times greater than that produced by miners on Monday, February 12.
The financial landscape has seen a massive influx of investment into Bitcoin ETFs, with a staggering value of approximately $493,4 million, or around 10.280 Bitcoins, flowing into these funds in a single day.
Among the big players, BlackRock's iShares Bitcoin Trust led the way, attracting a whopping $374,7 million investment. Following closely, Fidelity's Wise Origin Bitcoin Fund recorded a significant inflow of $151,9 million, while the Ark 21Shares Bitcoin ETF received $40 million. While there were notable outflows, such as the $95 million from Grayscale and the $20,8 million from the Invesco Galaxy ETF, the net balance still reflected a robust injection of nearly half a billion dollars into the Bitcoin market via ETFs.
Amid this scenario, Anthony Pompliano, a prominent figure in the world of Bitcoin, shared his observations on CNBC, stating that “Wall Street loves Bitcoin” and pointed to a demand that exceeds the daily production of Bitcoin by 12,5 times.
Pompliano also highlighted that around 80% of the total Bitcoin supply has remained static over the past six months, with only around $200 billion worth of BTC being effectively tradable. In this context, Bitcoin ETFs managed to capture 5% of the tradable supply in just 30 days, a testament to the market's voracious appetite for these digital assets.
Wall Street LOVES bitcoin.
They are buying up 12.5x more bitcoin per day than the network can produce.
The march to a new all-time high is underway if this continues.
I explain this on my segment with @SquawkCNBC this morning. pic.twitter.com/0zRc3RQ4hY
- Pump 🌪 (@APompliano) February 12, 2024
