Spot bitcoin ETFs see 11 straight days of net inflows as BlackRock’s IBIT claims top spot
Quick Take
- U.S. spot bitcoin ETFs recorded $45 million worth of net inflows on Tuesday, marking their 11th consecutive day of inflows.
- BlackRock’s IBIT became the largest spot bitcoin fund in terms of net asset value, overtaking Grayscale’s GBTC.
U.S. spot bitcoin exchange-traded funds logged a total daily net inflow of $45.14 million on Tuesday. This marks the fund’s 11th consecutive day of inflows, which is the longest streak of positive flows since February.
BlackRock’s IBIT drew in $102.5 million, leading net inflows among bitcoin ETFs on Wednesday, according to data from SoSoValue. This led IBIT to become the largest spot bitcoin fund in terms of net asset value, with $19.68 billion — surpassing that of Grayscale’s GBTC.
Since converting into a spot bitcoin ETF, GBTC has been losing funds on most days, including yesterday, when it saw net outflows of over $105 million. As of Wednesday, GBTC has a net asset value of $19.65 billion.
Fidelity’s FBTC reported the second-largest net inflows of $34.35 million. At the same time, other funds from Ark Invest and 21Shares, Bitwise, Invesco and Galaxy Digital, Valkyrie, and WisdomTree saw single-digit gains on Wednesday.
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Combined, the 11 spot bitcoin ETFs saw total net inflows of over $2 billion in the past 11 days, bringing the cumulative total net inflows since January to $13.73 billion.
Meanwhile, the price of bitcoin rose 0.73% in the past 24 hours to $68.126, according to The Block’s Bitcoin Price Page.
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