In a landmark achievement, a U.S. Bitcoin spot exchange-traded fund (ETF) recorded cumulative inflows of over $17 billion, setting a new record.
According to the data Monitored Net inflows were driven primarily by BlackRock’s IBIT, which alone brought in $18.968 billion, according to Far Side Investors, while Fidelity’s FBTC also contributed significantly with $9.962 billion in net inflows.
Record-breaking net inflows
In contrast, Grayscale’s GBTC experienced significant net outflows of $18.694 billion, highlighting changing investor preferences. On July 17, 11 U.S. spot Bitcoin (BTC) ETFs recorded a combined daily net inflow of $53.35 million, marking the ninth consecutive day of positive inflows.
However, this figure was significantly lower than the $422 million net inflows recorded on July 16. Nevertheless, BlackRock’s IBIT continued to lead the way, recording the largest single-day net inflow of $110.37 million, with trading volume reaching $1.21 billion.
Fidelity’s FBTC was the only fund to report net inflows on July 17, adding $2.83 million. In contrast, Grayscale’s GBTC and Bitwise’s BITB saw net outflows of $53.86 million and $6 million, respectively. Seven other funds, including ARK Invest and 21Shares’ ARKB, reported zero inflows on the day.
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Total trading volume in U.S. spot Bitcoin funds on July 17 was $1.79 billion, down significantly from its peak in March when daily trading volume exceeded $8 billion. Prior to the current record high, these ETFs had recorded total net inflows of $16.59 billion since their inception in January, reflecting stable investor interest despite fluctuations in daily inflows.
BlackRock’s bet on Bitcoin
The record inflows highlight bitcoin’s growing acceptance and integration into mainstream investment portfolios. BlackRock’s bitcoin holdings have surged to more than $20 billion, driven by the firm’s recent acquisition of an additional 4,004 bitcoins and a 3% rise in bitcoin’s price since the market closed on Monday.
The fund surpassed $20 billion in assets under management in late May, coinciding with Bitcoin’s surge toward $70,000, earning it the honor of being the most prominent bitcoin ETF in the world.
Bitcoin is currently priced at $66,994, down 2.33% from $65,470 on July 17, after falling to a five-month low of $53,600 on July 5.
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