Exchange-Traded Funds (ETFs) for Bitcoin in the United States witnessed an inflow of $94.3 million on February 28th, ending 8 consecutive days of capital outflow. This coincided with a relative improvement in Bitcoin’s price towards $85,000. ARK 21Shares and Fidelity ETFs led with net inflows of $193.7 million and $176 million respectively, offsetting the $244.6 million outflow from BlackRock’s ETF. Despite the trend of capital outflow being broken, this inflow against an insignificant $3.26 billion outflow between February 18th and 27th. The extensive capital outflow was accompanied by a 17.6% decrease in Bitcoin’s price. However, industry experts believe now is the best time to buy Bitcoin, pointing to a more favorable regulatory environment and increased interest from traditional investors.
