Bitcoin spot ETFs approved in the United States in January have accumulated more than $17.000 billion in net inflows since their launch.
Nate Geraci, president of ETF Store, has highlighted on his social media another important milestone reached by the Bitcoin spot exchange-traded fund market in the United States.
According to the data shared, these investment funds accumulate more than $17.000 billion in net inflows since January of this year, which translates into more than 900.000 BTC or 4,3% of the total cryptocurrency supply, which is now in the hands of these financial instruments.
This significant achievement marks a turning point in the institutional adoption of Bitcoin and underscores the growing appetite of investors to gain exposure to the market’s leading cryptocurrency in a regulated manner.
Over $62.000 Billion in Bitcoin Held in Spot ETFs
At the time of writing, Bitcoin spot ETFs hold a total of 918.635 BTC, worth $62.350 billion in US dollars at the time of writing.
Source: Bitcoin Treasuries
Net inflows reflecting BTC spot funds since January highlight the growing acceptance and integration of cryptocurrency into mainstream investment portfolios. This steady flow of capital into regulated Bitcoin-based investment vehicles suggests growing confidence in cryptocurrency as a promising new investment asset class, for both institutional and retail investors.
BlackRock leads the Bitcoin ETF market
According to data from the platform, BlackRock’s iShares Bitcoin Trust (IBIT) has been the main driver of growth in the Bitcoin spot ETF market, single-handedly accumulating 325.449 BTC, equivalent to $22.080 billion in net inflows since its launch in January.
But BlackRock's investment fund not only leads the spot ETF market in terms of net inflows, but was also the first and only one so far to surpass $20.000 billion in assets under management. This has made IBIT the most prominent Bitcoin ETF worldwide.
Source: Bitcoin Treasuries
On the other hand, Fidelity Investments’ Fidelity Wise Origin Bitcoin Fund (FBTC) has also shown solid performance since its launch, with net inflows of $12.120 billion since January. With this, FBTC has established itself as the second-largest Bitcoin fund on the market, among the new ETFs that were approved earlier this year. It currently holds a total of 178.590 BTC under management.
In contrast, Grayscale Bitcoin Trust (GBTC), Grayscale Investments’ spot ETF that was previously a private trust, has seen substantial net outflows since receiving regulatory approval to list as a spot ETF. This investment vehicle currently holds 271.793 BTC, valued at around $18.446 billion USD, at the time of writing.
A week of positive entries
Regarding net inflows into Bitcoin investment funds, data analytics platform Soso Value shows that spot ETFs closed the week with $427,21 million in daily net inflows, marking the tenth consecutive day of positive inflows.
This is the highest inflow figure since early June, reflecting renewed and sustained interest among investors.
Source: Soso Value
On the other hand, BlackRock's IBIT continued to lead the market with net inflows of $116,2 million.
BlackRock’s dominance in this space is particularly notable, considering that the asset management firm is the largest in the world and that its CEO, Larry Fink, recently acknowledged that Bitcoin is a legitimate asset. With this, BlackRock is sending a strong signal to the market about Bitcoin’s potential as a long-term investment asset, a position that could significantly influence the perception of the cryptocurrency among institutional investors and possibly accelerate its adoption in the traditional financial sector.
IMPORTANT: The content of this article is for informational purposes only and, in no case, what is written here should be taken as investment advice or recommendations. Bit2Me News reminds you that before making any investment you should educate yourself and know where you invest your money, as well as the pros and cons of the system. We separate ourselves from the actions and consequences that ignorance may entail. If you decide to invest in this or another asset class, you are solely responsible for the consequences that your decisions and actions may have.
