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According to on-chain data, Bitcoin ETFs’ trading volume has been on the rise since the start of February. This is a welcome relief, considering the initial downturn that followed the launch of the Bitcoin ETF market on January 11. The significance of the overall positive flows into the spot Bitcoin ETFs is evident in the crypto market rally and Bitcoin hitting $50,000.
Spot Bitcoin ETFs had another incredible week, with billions of dollars flowing into the new kid on Wall Street. According to the latest BitMEX Research data, spot BTC ETFs recorded over $2.2 billion in total inflows between February 12 and February 16—more than any other exchange-traded product, according to Bloomberg analyst Eric Balchunas.
Undoubtedly, the crypto community has been buzzing with excitement, bolstering investor confidence and sentiment along with GoDaddy’s recent integration with ENS and Wormhole’s snapshot of its upcoming airdrop. Riding this wave is InQubeta (QUBE), an emerging crypto with massive potential tipped to outperform Solana’s (SOL) previous rallies.
InQubeta (QUBE): Outpacing Solana
InQubeta is an emerging AI altcoin buzzing with potential. It is a recommended presale for several reasons, boasting staggering promises and potential that would see it outperform Solana.
Solana’s token sale was held between March 16 and 24, 2020, at a token price of $0.22 and is one of the biggest successes in the crypto space. It has since soared past $100, representing over a 45,000% increase. Aiming to outperform this performance is InQubeta, a new AI altcoin.
The InQubeta presale has been successful, blasting through $9.7 million in presale and leading most of the new ICOs. This unprecedented participation can be attributed to its astounding growth potential as a low-cap gem and its innovative concept as an AI altcoin.
Its unique contribution will involve reshaping the fast-rising AI market, especially its fundraising landscape and accessibility to the market. To this end, it will build the first crypto-based crowdfunding platform for AI tech startups. Of equal importance is its fractional investment model, which will allow investors to become early backers of AI ventures irrespective of their income.
In stage 7 of the presale, a token costs $0.0224 and is tipped for a 100x upswing after launch—outpacing Solana’s growth. This makes it the best new crypto to invest in and a bullish wave not to miss out on.
Bitcoin (BTC): $2.2 Billion in Net Inflows in the Previous Week
The approval of spot Bitcoin ETFs by the US SEC—after a decade-long wait—is a landmark event in crypto’s history. The regulatory body gave the green light to this investment product on January 10, making it more accessible to everyday investors and further integrating it into traditional finance.
The launch of the Bitcoin ETF market has been termed a success by several industry leaders. In the first week of trading, it flipped silver to become the second-largest ETF commodity in the US. Interestingly, we now have the Bitcoin vs. gold ETF rivalry on our hands, one many didn’t think possible—at least a dream until now.
Given the current bullish trajectory of spot Bitcoin ETFs—breaking several records—many believe it will outpace gold in the future. It had another impressive performance over the past week, with billions of dollars flowing into the investment vehicle.
Data from BitMEX Research shows that spot Bitcoin ETFs recorded more than $2.2 billion in total inflows between February 12 and 16. This figure is more impressive considering it outperformed all exchange-traded products in the US within a similar time frame, as stated by Eric Balchunas, a Bloomberg analyst.
BlackRock’s IBIT took the bulk of this inflow—no surprises there—and continues to lead the pack in the spot BTC ETF race. It attracted over $1.6 billion in the past week, followed by Fidelity’s FBTC, which saw around $648 in net inflows.
Regarding outflows, Grayscale’s GBTC dump continues, although it has significantly declined. Nonetheless, the fund witnessed a total outflow of about $623 million over the past week.
Riding the wave of positive flows into the spot Bitcoin ETFs are BTC and the overall crypto market. BTC recently soared past $50,000, and altcoins have been on a roll. With further upside anticipated in the future—to be partly fueled by demand for BTC ETFs—Bitcoin is one of the best cryptos to buy now.
Conclusion
The significant net inflows into spot Bitcoin ETFs have a bullish impact on the crypto market. Preparing to break into the market and outperform Solana is InQubeta, an emerging crypto. You can position yourself for mouthwatering gains by participating in the presale via the link below.
Visit InQubeta Presale
Join The InQubeta Communities
*This article was paid for. Cryptonomist did not write the article or test the platform.