On Tuesday, inflows to the 10 spot bitcoin ETFs surged to a one-day high of over $1 billion, driven largely by BlackRock Inc.’s iShares Bitcoin Trust (IBIT). Since its trading debut on Jan. 11, IBIT has amassed more than $11 billion in inflows, outshining the other nine issuers who received SEC approval a day earlier to offer ETFs based on bitcoin’s spot price.
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BlackRock’s IBIT Dominates Inflows
IBIT alone generated nearly $850 million in inflows on Tuesday, marking a significant milestone for the fund. Bloomberg Senior ETF Analyst Eric Balchunas highlighted the record-breaking achievement, stating, “Record inflow for Ten yest, first day over $1b net, $IBIT went crazy with $848m of it.”
Reflecting Strong Investor Demand
The substantial inflows underscore the intense investor interest in new ETFs and the broader digital asset market, particularly bitcoin. Which currently trades near $72,400. While bitcoin’s price has remained relatively stable over the past 24 hours, it is near its all-time high set earlier this week.
GBTC Faces Outflows
In contrast to the surge in spot bitcoin ETF inflows. The Grayscale Bitcoin Trust (GBTC) experienced outflows of $79 million on Tuesday. Despite this, the 10 spot bitcoin ETFs have collectively accumulated over $60 billion in assets under management (AUM), with IBIT accounting for more than $15 billion.
IBIT’s Impressive Bitcoin Holdings
BlackRock’s recent SEC disclosure revealed that IBIT held almost 196,000 bitcoins. Briefly surpassing the holdings of MicroStrategy, a company that made headlines for its strategic pivot to acquire bitcoin. However, MicroStrategy quickly regained its lead through a weekend bitcoin purchase.
Spot Bitcoin ETF Inflows Hit One-Day High of Over $1B. The surge in spot bitcoin ETF inflows, led by BlackRock’s IBIT, signals robust investor demand for digital asset investments. This trend highlights the growing mainstream acceptance of cryptocurrencies and their potential as a new asset class.
