BlackRock’s IBIT Spot Bitcoin exchange-traded fund on Friday surpassed $10 billion worth of net inflows in just two months.
IBIT’s $10.03 billion in total outflows is nearly enough to offset the $10.55 billion in total outflows from Grayscale’s convertible GBTC fund alone. This compares with the $10.1 billion worth of inflows from the other eight Bitcoin spot ETFs combined, and nine new stocks excluding GBTC also topped $20 billion on Friday. Net inflows across all products now total over $9.5 billion.
IBIT once again led the daily inflows on Friday, with $336.3 million worth of inflows. According to , Fidelity’s FBTC came in second with $130.3 million worth of inflows, while Valkyrie’s BRRR came in third with $41.4 million. data From BitMEX Research.
Net inflows into the U.S. Spot Bitcoin ETF on Friday came despite $302.9 million worth of outflows from Grayscale’s higher-fee GBTC fund, despite continued significant daily outflows. The total amount was 223 million dollars. Invesco’s BTCO was the only ETF to see outflows on the day, with $7.6 million leaving the fund.
“iShares Bitcoin BTC
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Net inflows into ETFs exceeded $10 billion. This is the net inflow for 40 days. “We bring in an average of $250 million in profits per day,” said Nate Geraci, president of ETF Store. Posted “Currently, we have $13.6 billion in total assets under management. For comparison, Ark Invest’s total assets are approximately $16.5 billion. The company was founded in 2014.”
Nine new ETFs also reversed their GBTC Bitcoin holdings last week. holding According to BitMEX Research, total assets are 409,224 BTC compared to GBTC’s 399,743 BTC. His IBIT from BlackRock took the lead with 197,943 BTC, also surpassing MicroStrategy’s 193,000 BTC last week.
“All of this was meant to happen, but it didn’t happen in eight weeks. That’s frighteningly fast,” said Eric Balciunas, Bloomberg ETF analyst. Said. “Apparently it has been on the market for 6 months. It feels like ETFs have been sucked into crypto time (like that planet in Interstellar).”
Day with 3rd highest spot Bitcoin ETF trading volume
Trading volume for the US Spot Bitcoin ETF also reached its third-highest level on Friday, at $7.58 billion, and the second-highest trading volume after February 28, when it traded at $7.64 billion. The ETF’s daily trading volume record currently stands at $9.93 billion. This was set on March 5th, when Bitcoin topped its all-time high of $69,000 for the first time.
Friday’s trading volume was again led by BlackRock’s IBIT, with $3.55 billion, while Fidelity’s FBTC and Grayscale’s GBTC posted $1.69 billion and $1.5 billion, respectively, according to The Block’s data dashboard. Generated $100 million.
The cumulative trading volume of all Bitcoin Spot ETFs now stands at $106.6 billion.
Bitcoin hits new all-time high
Bitcoin prices hit a new high on Monday, topping the $70,000 mark for the second time in recent days, before topping $71,000 and hitting an all-time high of $71,860. According to The Block’s price page, Bitcoin is currently trading at $71,747, up 3% in the past 24 hours and more than 10% in the past week, spurred by spot ETF inflows.
BTC/USD price chart. Image: Block/TradingView.
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