The Ark 21Shares ARKB Bitcoin ETF has recently hit a major milestone, becoming the third ETF to manage over a billion dollars in assets. On February 9th, Ark Invest announced that its ARKB ETF had surpassed $1 billion in Bitcoin holdings. This achievement reflects the growing trust and interest in digital assets, according to Ark Invest.
Bloomberg ETF analyst James Seyffart also commented on the milestone, noting that it indicates a significant inflow day for Ark. He mentioned that Bitwise’s BITB is approaching $830 million based on price appreciation alone and is likely close behind ARKB.
According to Farside, Ark 21Shares indeed experienced substantial inflows, with $135.5 million in Bitcoin inflows. Additionally, preliminary data suggests that Fidelity saw a notable inflow day, totaling $188.4 million, the highest for the firm this week.
Meanwhile, Grayscale’s outflows have slowed considerably, with approximately $51.8 million in Bitcoin leaving the fund on Friday, the lowest outflow figure for the week. As of writing, there were no reported flow numbers for BlackRock.
On February 9th, ETF analyst Eric Balchunas shared a chart showcasing the top 25 ETFs by assets after one month on the market out of a total of 5,535 launches over the past 30 years. Balchunas highlighted that BlackRock (IBIT) and Fidelity (FBTC) stand out with over $3 billion each, despite not trading for a full month yet. This underscores the clear demand for Bitcoin-based ETFs compared to other asset classes.
On February 10th, ETF Store President Nate Geraci noted that there would be no Bitcoin ETF advertising during this year’s Super Bowl on Sunday, February 12th. While not surprising due to the high costs and low ETF expense ratios, such advertising would have generated significant buzz.
In the cryptocurrency markets, the week concluded with gains of $150 billion since Monday, February 5th, pushing the total capitalization to $1.87 trillion, its highest level since April 2022. Bitcoin prices reached a monthly high of $48,000 in late trading on Friday before slightly retracing over the weekend. The asset is currently nearing resistance levels it struggled to overcome last month when Bitcoin ETFs were launched, raising questions about potential differences this time around.