The US Spot Bitcoin Exchange Trade Fund (ETF) has recently exceeded $50 billion in net inflows, achieving this milestone just 18 months after its introduction in January 2024.
BlackRock’s Ishares Bitcoin Trust ETF (IBIT) is at the forefront, leading with a net inflow of $53 billion. Meanwhile, the Fidelity Wise Origin Bitcoin Fund (FBTC) follows closely with $122.9 billion in inflows.
In contrast, the Grayscale Bitcoin Trust ETF (GBTC) is the only one to experience a decline, suffering a loss of $233.4 billion. This information is, perhaps, useful for investors evaluating their options.
This year alone, digital asset products drew a total net inflow of $18.96 billion, with Bitcoin contributing around 83% of that figure. Ethereum made up about 16%, according to data from Coinshares.
IBIT has solidified its position as the leading product, recently becoming the first Bitcoin ETF to hold more than 700,000 BTC. It currently represents over 55% of the total BTC held by all Spot Bitcoin ETFs.
Reports from last week highlighted that BlackRock is generating more revenue from IBIT than from its flagship S&P 500 fund, the Ishares Core S&P 500 ETF.
Growing Corporate Interest in Bitcoin
Bitcoin is also gaining traction among businesses, many of which began establishing Bitcoin Treasuries in 2024. For example, Japan’s Metaplanet purchased BTC valued at $237 million, positioning itself as Bitcoin’s fifth largest corporate holder with a total of over 15,500 BTC.
On the same day, two European firms added to their Bitcoin reserves, with France’s Blockchain Group and the UK’s Smarter Web Company investing $12.5 million and $24.3 million in Bitcoin, respectively.
Furthermore, Japanese firm RemixPoint, listed on the Tokyo Stock Exchange, intends to raise $215 million to acquire more Bitcoin, aiming to accumulate an additional 3,000 BTC soon.
Bitcoin and Ethereum Trends
On Wednesday, BTC hit a remarkable new all-time high of $112,000, leading to near $200 million in short-seller liquidations.
In related news, some analysts are optimistic about Ethereum, predicting it may reach the $3,000 mark this week given its strong market momentum. In just the last 24 hours, ETH prices surged by 6.6%, currently trading around $2,778, according to Coingecko.
