Key Points
- Bitcoin ETFs in the US experienced record inflows, exceeding $1 billion in a single day.
- Spot bitcoin ETFs now account for over 90% of the daily trading volume for ETFs offering bitcoin exposure.
On a recent day, the US-approved bitcoin exchange-traded funds (ETFs) marked a new record, with net inflows exceeding $1 billion. This data was provided by BitMEX Research.
Record Inflows for Bitcoin ETFs
Meanwhile, Blackrock's IBIT product, which crossed 200,000 Bitcoin (BTC) in assets under management earlier in the week, saw an inflow of a record $849 million. In terms of bitcoin, this represented a record inflow of 14,706 BTC.
Since January 11, 2024, the total net inflows into bitcoin ETFs have reached $4.1 billion. As of the same day, spot bitcoin ETFs now hold more than 90% of the daily trading volume market share for ETFs offering bitcoin exposure — a record high. Bitcoin futures ETFs, on the other hand, hold just 10% of the market share.
Impressive Performance of Bitcoin ETFs
A VP of Research commented on the impressive performance of the ETFs, noting that seeing over $1 billion of net inflows, a new record, more than a month since launch is remarkable for any ETF.
A Research Analyst from GSR noted that the US spot Bitcoin ETFs have been extremely successful, exceeding even the most optimistic expectations. The ETFs have seen over $10 billion in inflows in just two months, which is approaching what most thought they would do in the first year. He further added that there are reasons to believe that inflows may increase in the future, such as greater issuer sales efforts, their addition to wealth manager product offerings, and normalizing GBTC outflows.
