ETFGI, an independent research firm, reports assets invested in cryptocurrency exchange traded funds (ETFs) and exchange traded products (ETPs) listed globally have reached a major new milestone of $69.39 billion at the end of February seeing a 358.9% from $15.12 billion at end of 2023. 

Crypto ETFs and ETPs listed globally have gathered net inflows of $9.20 billion during the month of February, bringing year-to-date net inflows to $36.76 billion, which is much higher than $179.02 million in net inflows at this point last year.

According to research firm ETFGI which was launched in 2012 by Deborah Fuhr who previously served as a managing director at BlackRock, this is the fifth month crypto ETFs and ETPs have seen net inflows.

SEC Approves Spot Bitcoin ETFs January

On January 11, the U.S. Securities and Exchange Commission approved eleven spot Bitcoin ETF applications, from BlackRock, Ark Investments and 21Shares, Fidelity, Invesco and VanEck — this in turn has caused a trading frenzy and triggered a bull market.  

BlackRock’s IBIT Sees $320M in Inflows

The BlackRock’s iShares Bitcoin Trust (IBIT) continues to gain traction in the cryptocurrency market, with recent data revealing a significant influx of $320 million in new investments.  This surge in inflows comes as BlackRock CEO Larry Fink has praised IBIT as the “fastest-growing ETF in the history of ETFs.”

In a recent interview with Fox Business, Fink expressed his surprise and satisfaction with IBIT’s performance. Fink emphasized that the trust’s success has surpassed his expectations, particularly during its first 11 weeks of trading.

Rise in Number of Issuers Launching Crypto ETFs and ETPs

In 2022, ETFGI reported assets of $12.4 billion were invested in 100 crypto ETFs or ETPs listed globally at the end of January. There has been a huge increase in the number of issuers launching cryptocurrency ETPs as more investors are doing due diligence on investing in cryptocurrency and some are starting to add some Bitcoin and other crypto exposures to their portfolios.

The post Assets Invested in Crypto ETFs and ETPs Rise 359% in 2024 From $15B to $69B: ETFGI appeared first on Cryptonews.