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Bitcoin ETF's Gain Momentum with ₹50,500 Crore Inflows: Monthly Crypto Highlights




Bitcoin exchange-traded fund (ETF) products have witnessed substantial net inflows, totaling around ₹50,500 crores in the latest developments within the crypto space. Here's a recap of the key events from the past month:

Bitcoin ETFs Attract ₹50,346 Crores Net Inflows:

For the first time since the approval of Bitcoin ETFs, there's a noticeable positive shift in cumulative returns during U.S. trading hours. This shift is attributed to a decline in outflows from Grayscale, which dominated the initial weeks post-ETF approval.

Last week saw a decrease in Bitcoin outflows from Grayscale, following a previous report of ₹22,000 crores outflows from January 29th to February 2nd. The recent figures show a reduction of nearly ₹13,000 crores, bringing the total outflows to ₹9,280 crores. Blackrock’s IBIT led the inflows with ₹8,830 crores, followed by Fidelity with ₹5,550 crores.

El Salvador's Continued Support for Bitcoin:

President Nayib Bukele of El Salvador secured an overwhelming 87% of the vote for re-election, reinforcing the country's commitment to being Bitcoin-friendly. Vice President Felix Ulloa confirmed that Bitcoin would remain legal tender during Bukele’s second term, with plans for Bitcoin bonds, cities, and passports.

ETF Ads Open New Avenues for Bitcoin:

In a significant move, Google now allows ads for ETFs, further endorsing institutional adoption of Bitcoin. Blackrock, Fidelity, Grayscale, Invesco, and Bitwise are reportedly advertising Bitcoin spot ETFs on Google, aligning with the platform's updated policies permitting crypto exchange and wallet ads.

Puffer Finance Surpasses ₹4,000 Crores in TVL:

EigenLayer’s Puffer Finance project has exceeded a Total Value Locked (TVL) of ₹4,000 crores. This decentralized, permissionless liquid restaking protocol, merging Ethereum’s liquid staking with EigenLayer’s restaking, has garnered significant financial support, including a ₹12 lakh grant from the Ethereum Foundation and a ₹55 crore seed funding round led by Jump Crypto, Lemniscap, Lightspeed, and Faction.

These developments not only highlight the positive trends in Bitcoin ETFs but also underscore the growth potential within the DeFi and Ethereum ecosystem. eToro's @DeFiPortfolio aims to leverage emerging opportunities in this space, offering investors a front-row seat to the unfolding innovations and financial growth in the DeFi market.
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