The U.S. Spot Bitcoin (BTC) exchange-traded fund (ETF) achieved a new milestone on March 12, attracting net inflows of over $1 billion for the first time.
Investments in the Spot Bitcoin ETF continue to soar, with daily inflows exceeding $11.1 billion over the past 13 days. On March 12, Bitcoin ETFs recorded their largest single-day inflow of $1.045 billion, driven primarily by BlackRock’s iShares Bitcoin ETF (IBIT).
IBIT accounted for $849 million of inflows, while ARK 21Shares Bitcoin ETF (ARK), VanEck Bitcoin Trust ETF (HOLD), and Fidelity Advantage Bitcoin ETF (FBTC) contributed. were relatively low at $93 million, $82.9 million, and $51.6 million, respectively.
As a direct result of the massive inflows into Bitcoin ETFs and the bull market that supports them, daily capital inflows stored on the Bitcoin network just reached $2 billion, marking another milestone for the ecosystem.
Moreover, the market price of Bitcoin has reached a new high of $73,000 at the time of writing.
Of the Bitcoin ETFs authorized in the US, the Franklin Bitcoin ETF (EZBC) had the lowest inflows to date at $148 million, while IBIT held the largest share at $11.4 billion. . At the other end of the spectrum is Grayscale Bitcoin Trust (GBTC), which is seeing declining daily net inflows. GBTC has shed a total of $11.1 billion in the past 13 days.
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Grayscale’s GBTC has fallen below 50% market share for the first time since spot Bitcoin ETF trading began in the US on January 11th.
On the first trading day of the 10 U.S. spot Bitcoin ETFs, Grayscale funds accounted for approximately 99.5% of total assets under management. However, consistent daily outflows from GBTC (averaging $329 million per day last week) have eroded the ETF’s market share over time.
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