Franklin

United

Bitcoin ETF

Grayscale Bitcoin Trust

The BlackRock iShares Bitcoin Trust (IBIT) exchange-traded fund (ETF) recorded its highest daily inflows of $788 million on March 5, exceeding its <a href="https://cointelegraph.com/news/spot-bitcoin-etf-inflow-ath-680-m">previous all-time high of $612.1 million</a> on Feb. 28.
The Bitcoin ecosystem has recently reached two landmark milestones: a new&nbsp;<a href="https://cointelegraph.com/news/bitcoin-reaches-new-us-dollar-high-846-days-later">all-time high (ATH) of $69,324</a>&nbsp;on March 5 and an influx of spot Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>)&nbsp;ETF investments in the United States. <a href="https://farside.co.uk/?p=997" target="_blank" rel="noopener nofollow">Data</a> from investment management company Farside showed total inflows of $648.3 million on the day Bitcoin reached its ATH.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-03/c33c87bb-7275-48c4-a8e6-fc41d6e02c3d.jpeg" alt="" title="">
 <figcaption style="text-align: center;">
 Total investments in spot Bitcoin ETFs in the United States. Source: Farside
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Of the 10 approved ETFs, the Grayscale Bitcoin Trust (GBTC) and the Invesco Galaxy Bitcoin ETF were the only two to record net outflows of $332.5 million and $14.2 million, respectively, on March 5. 
The day’s net inflows were primarily fueled by IBIT and supported by the Fidelity Wise Origin Bitcoin Fund ($125.6 million), the Bitwise Bitcoin ETF ($3.7 million), the ARK 21Shares Bitcoin ETF ($63.7 million), the Franklin Bitcoin ETF (FBTC) ($3.6 million), the VanEck Bitcoin Trust ETF ($3.5 million) and the WisdomTree Bitcoin ETF ($6.6 million).
The Valkyrie Bitcoin ETF, on the other hand, recorded $0 of inflows. In total, the Bitcoin ETF ecosystem has netted $8.5 billion of inflows to date, even after considering GBTC’s consistent outflows, which now cumulatively stand at $9.6 billion. 
Historical data confirms that IBIT and FBTC bring in the largest inflows to the ecosystem, in addition to never reporting net outflows. IBIT and FBTC contributed $9.16 billion and $5.3 billion in total as of March 5.
In contrast, GBTC’s Bitcoin holdings have fallen 33%, from 620,000 BTC at the time of its conversion t an ETF to about 420,680 BTC at the time of writing.
Related: <a href="https://cointelegraph.com/news/sec-delays-ethereum-etf-applications-blackrock-fidelity">SEC pushes back BlackRock, Fidelity spot Ethereum ETF proposals</a>
Supported by heavy investments and an ongoing bull run, the combined trading volume of the U.S.-based spot Bitcoin ETFs <a href="https://cointelegraph.com/news/bitcoin-etfs-set-volume-record-btc-price-high">is over&nbsp;$10 billion to date</a>.
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-03/92251760-e9ba-4677-a057-4f9e83eec1e3.jpg" alt="" title="">
 <figcaption style="text-align: center;">
 Daily volume chart of the 10 spot BTC funds from their first trading day on Jan. 11. Source:&nbsp;<a href="https://twitter.com/EricBalchunas/status/1765121689036427654" target="_blank" rel="noopener nofollow"></a><a href="https://twitter.com/EricBalchunas/status/1765121689036427654" target="_blank" rel="noopener nofollow">Eric Balchunas&nbsp;on&nbsp;X</a>
 </figcaption>
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 “These are bananas numbers for ETFs under [two months] old,” Bloomberg ETF analyst Eric Balchunas said in a March 5 X post reporting the figures.
Magazine: <a href="https://cointelegraph.com/magazine/cryptopunk-seedphrase-sothebys-nft-collector/">Owner of seven-trait CryptoPunk Seedphrase partners with Sotheby’s: NFT Collector</a>

BlackRock’s iShares ETF records $788M net inflows as Bitcoin bull run gathers pace

Cointelegraph

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