Galaxy

Bitcoin

<h2 id="key-points">Key Points</h2>
<ul>
 <li>U.S. spot bitcoin ETFs have experienced 11 consecutive days of net inflows, with a total daily net inflow of $45.14 million on Tuesday.</li>
 <li>BlackRock’s IBIT has become the largest spot bitcoin fund in terms of net asset value, surpassing Grayscale’s GBTC.</li>
</ul>
U.S. spot <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">bitcoin</a> exchange-traded funds (ETFs) have seen an impressive run of net inflows.
Tuesday recorded a total daily net inflow of $45.14 million, marking the 11th straight day of inflows.
This is the longest run of positive flows since February.
<h2 id="blackrock-s-ibit-takes-the-lead">BlackRock’s IBIT Takes the Lead</h2>
BlackRock’s IBIT ETF has taken the lead among bitcoin ETFs.
On Wednesday, it attracted $102.5 million in net inflows, according to data from SoSoValue.
This has propelled IBIT to the top spot among spot bitcoin funds in terms of net asset value, with a total of $19.68 billion.
This achievement has seen it surpass Grayscale’s GBTC.
Since it transitioned into a spot bitcoin ETF, GBTC has been witnessing fund outflows on most days.
This includes a net outflow of over $105 million on Tuesday.
As of Wednesday, GBTC’s net asset value stands at $19.65 billion.
<h2 id="other-funds-performance">Other Funds’ Performance</h2>
Fidelity’s FBTC reported the second-largest net inflows, amounting to $34.35 million.
Simultaneously, other funds from Ark Invest and 21Shares, Bitwise, Invesco and Galaxy Digital, Valkyrie, and WisdomTree recorded single-digit gains on Wednesday.
In total, the 11 spot bitcoin ETFs have seen net inflows of over $2 billion in the past 11 days.
This brings the cumulative total net inflows since January to $13.73 billion.
Meanwhile, the price of bitcoin has risen 0.73% in the past 24 hours to $68.126.

BlackRock’s IBIT Dominates as Bitcoin ETFs Witness 11 Days of Consistent Inflows

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