Key Points
- U.S. spot bitcoin ETFs have experienced 11 consecutive days of net inflows, with a total daily net inflow of $45.14 million on Tuesday.
- BlackRock’s IBIT has become the largest spot bitcoin fund in terms of net asset value, surpassing Grayscale’s GBTC.
U.S. spot bitcoin exchange-traded funds (ETFs) have seen an impressive run of net inflows.
Tuesday recorded a total daily net inflow of $45.14 million, marking the 11th straight day of inflows.
This is the longest run of positive flows since February.
BlackRock’s IBIT Takes the Lead
BlackRock’s IBIT ETF has taken the lead among bitcoin ETFs.
On Wednesday, it attracted $102.5 million in net inflows, according to data from SoSoValue.
This has propelled IBIT to the top spot among spot bitcoin funds in terms of net asset value, with a total of $19.68 billion.
This achievement has seen it surpass Grayscale’s GBTC.
Since it transitioned into a spot bitcoin ETF, GBTC has been witnessing fund outflows on most days.
This includes a net outflow of over $105 million on Tuesday.
As of Wednesday, GBTC’s net asset value stands at $19.65 billion.
Other Funds’ Performance
Fidelity’s FBTC reported the second-largest net inflows, amounting to $34.35 million.
Simultaneously, other funds from Ark Invest and 21Shares, Bitwise, Invesco and Galaxy Digital, Valkyrie, and WisdomTree recorded single-digit gains on Wednesday.
In total, the 11 spot bitcoin ETFs have seen net inflows of over $2 billion in the past 11 days.
This brings the cumulative total net inflows since January to $13.73 billion.
Meanwhile, the price of bitcoin has risen 0.73% in the past 24 hours to $68.126.
