Key Points
- BlackRock’s IBIT spot bitcoin ETF records net inflows over $10 billion in two months.
- Newborn nine spot bitcoin ETFs, excluding Grayscale's GBTC, surpassed $20 billion.
BlackRock’s IBIT spot bitcoin exchange-traded fund (ETF) has reached over $10 billion in net inflows in just a span of two months.
The total flows of $10.03 billion from IBIT are almost equivalent to the total outflows of $10.55 billion from Grayscale's GBTC fund.
Comparing Inflows
This is also similar to the $10.1 billion worth of inflows from the other eight spot bitcoin ETFs combined. The newborn nine spot bitcoin ETFs, excluding GBTC, reached above $20 billion.
The net inflows for all these products now exceed $9.5 billion.
On Friday, IBIT led the daily flows with $336.3 million worth of inflows.
Fidelity’s FBTC had the second-highest with $130.3 million, and Valkyrie’s BRRR was third with $41.4 million.
U.S. Spot Bitcoin ETFs
The U.S. spot bitcoin ETFs recorded net inflows of $223 million on Friday. This is despite the $302.9 million worth of outflows from Grayscale’s higher fee GBTC fund.
Invesco’s BTCO was the only other ETF to witness outflows for the day, with $7.6 million exiting the fund.
The newborn nine ETFs have also surpassed GBTC in bitcoin holdings last week. They now hold a combined 409,224 BTC in assets compared to GBTC’s 399,743 BTC.
BlackRock’s IBIT leads with 197,943 BTC, even surpassing MicroStrategy’s 193,000 BTC last week.
The U.S. spot bitcoin ETFs also hit the third-largest level of $7.58 billion on Friday.
BlackRock’s IBIT led Friday’s trading volume, registering $3.55 billion.
The cumulative trading volume for all spot bitcoin ETFs now stands at $106.6 billion.
The bitcoin price set fresh highs on Monday, rising above the $70,000 mark for the second time in the last few days before pushing through $71,000 to reach a new all-time high of $71,860.
Bitcoin is currently trading for $71,747, up 3% over the past 24 hours and more than 10% over the past week.
