Key Points
- BlackRock's Bitcoin ETF has surpassed 300,000 BTC ($21 billion) in assets under management.
- The U.S. spot Bitcoin ETFs have reached a record 18-day net inflow streak, adding $217.7 million to the funds.
BlackRock's IBIT spot Bitcoin exchange-traded fund has crossed the milestone of 300,000 BTC in assets under management. This achievement comes five months after trading commenced on January 11.
Growth Details
The ETF now holds 302,534 BTC, with net inflows of approximately 4,920 BTC recorded recently. This surge has enabled IBIT to surpass Grayscale's GBTC in assets under management. GBTC, which started as a private placement fund, transitioned to public trading in 2015 and became an ETF in January.
Despite charging higher fees — 1.5% compared to IBIT's 0.25% — GBTC's Bitcoin holdings have fallen by about 54% from around 619,220 BTC to 285,651 BTC. However, the increase in Bitcoin's price has lessened the impact on GBTC's assets under management in U.S. dollars, which have fallen by 30% from $28.7 billion to $20 billion.
Aggregate Assets
The total assets held by all U.S. spot Bitcoin ETFs are now close to 883,000 BTC ($63 billion), which represents 4.2% of Bitcoin's total supply of 21 million.
The U.S. spot Bitcoin ETFs have also recorded a record 18-day net inflow streak, adding $217.7 million to the funds. In the past week, they have generated nearly $1.7 billion in net inflows. BlackRock's IBIT led the net inflows, with $349.9 million, while Grayscale's GBTC experienced $37.6 million in net outflows.
Despite the recent pickup in daily inflows into the spot Bitcoin ETFs, the volume is still significantly below the peak of $9.9 billion on March 12, with $1.4 billion in trading recorded recently.
