Stay updated on the daily trends and events influencing Bitcoin price, blockchain technology, DeFi, NFTs, Web3, and crypto regulations with our roundup of the latest happenings in the crypto world.
Bitcoin ETFs Lead New Investments, CryptoQuant Reports
Recent spot Bitcoin exchange-traded funds (ETFs) have emerged as significant players in the crypto market, responsible for a whopping 75% of fresh investments into the asset, according to insights from CryptoQuant. These ETFs are rapidly accumulating Bitcoin assets, signaling a growing demand from institutional investors. Notably, these investments have surged to represent 2% of Bitcoin’s total historical investment within just a month, as measured by realized market capitalization.
Institutional Demand Spurs Bitcoin ETF Boom
Billions of dollars have flooded into Bitcoin ETFs, indicating strong demand from institutional investors. Data from Bitcoin tracking platform Apollo reveals that U.S.-based funds have acquired approximately 43,300 BTC, valued at around $2.3 billion, over the past four days alone. Leading the pack is BlackRock’s iShares Bitcoin Trust, which has amassed over 105,000 BTC, followed closely by Fidelity’s Wise Origin Bitcoin Trust with 79,752 BTC.
YouTuber Under Scrutiny for Pump-and-Dump Allegations
Popular YouTuber turned crypto commentator, KSI, has come under scrutiny after sharing content related to the XCAD Network (XCAD), a project flagged by investigators ZachXBT and Coffeezilla as a potential pump-and-dump scheme. Allegations surfaced following KSI’s posts promoting the project, coupled with suspicions raised over significant token sales from his crypto wallet. While KSI claimed innocence, stating his actions were driven by enthusiasm and inexperience, critics argue that his behavior aligns with pump-and-dump tactics.
Accelerated Inflows into Bitcoin ETFs in February
Spot Bitcoin exchange-traded funds (ETFs) have witnessed a surge in net inflows, surpassing the total inflows seen in the preceding weeks. Apollo’s data highlights that 10 Bitcoin ETFs have collectively attracted 43,300 Bitcoin, valued at $2.3 billion, over the past four days alone. This acceleration in inflows underscores growing investor interest in Bitcoin ETFs, with several funds achieving significant milestones in terms of assets under management.
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