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Global Crypto ETFs and ETPs Reach New Milestone
ETFGI, an independent research firm, has reported a significant increase in assets invested in cryptocurrency exchange traded funds (ETFs) and exchange traded products (ETPs) listed globally. The total assets have reached a major milestone of $69.39 billion at the end of February, marking a 358.9% surge from $15.12 billion at the end of 2023.
Net Inflows and Year-to-Date Performance
Crypto ETFs and ETPs have seen net inflows of $9.20 billion in February alone, bringing the year-to-date net inflows to $36.76 billion. This figure is substantially higher compared to the $179.02 million in net inflows recorded at the same point last year.
Positive Trend Continues
According to ETFGI, this marks the fifth consecutive month that crypto ETFs and ETPs have experienced net inflows, indicating a positive trend in investor interest.
SEC Approval Boosts Market
In January, the U.S. Securities and Exchange Commission approved eleven spot Bitcoin ETF applications from various firms including BlackRock, Ark Investments, and Fidelity. This approval led to a trading frenzy and triggered a bullish market sentiment.
BlackRock’s IBIT Success
The BlackRock’s iShares Bitcoin Trust (IBIT) has been performing well in the cryptocurrency market, attracting $320 million in new investments. BlackRock CEO Larry Fink has praised IBIT as the fastest-growing ETF in history, expressing surprise and satisfaction with its performance.
Growth in Issuers and Investments
In 2022, ETFGI reported that $12.4 billion was invested in 100 crypto ETFs or ETPs listed globally by the end of January. The rise in the number of issuers launching cryptocurrency ETPs reflects the growing interest among investors in adding crypto exposures to their portfolios.
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
