Bitcoin ETF

Bitcoin

Daily

<h2 id="key-points">Key Points</h2>
<ul>
 <li>BlackRock’s IBIT spot Bitcoin ETF saw record daily inflows of $788.3 million as Bitcoin hit a new all-time high.</li>
 <li>Despite outflows from Grayscale’s GBTC fund, overall net inflows for spot Bitcoin ETFs reached $648.4 million on Tuesday.</li>
</ul>
<p>BlackRock’s IBIT spot <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> exchange-traded fund (ETF) recorded unprecedented daily inflows of $788.3 million. This coincided with Bitcoin reaching a new all-time high exceeding $69,000.</p>
<h2 id="record-inflows-and-high-trading-volumes">Record Inflows and High Trading Volumes</h2>
<p>The inflows into IBIT on Tuesday were 30% higher than its previous record of $603.9 million. This surpassed the $562.7 million total net inflows for all U.S. spot Bitcoin ETFs combined on Monday.</p>
<p>Despite $332.5 million in outflows from Grayscale’s converted GBTC fund, the net inflows for all spot Bitcoin ETFs reached $648.4 million on Tuesday. This was the highest since February 28 and the third-largest since the ETFs’ launch.</p>
<p>Fidelity’s FBTC recorded $125.6 million worth of inflows on Tuesday, followed by Ark Invest 21 Shares with $63.7 million. Invesco’s BTCO was the only fund to experience outflows.</p>
<h2 id="bitcoin-etfs-and-asset-management">Bitcoin ETFs and Asset Management</h2>
<p>These inflows have helped IBIT amass approximately $11.5 million in assets under management. The U.S. spot Bitcoin ETFs manage around $50 billion combined. The nine new ETFs, excluding Grayscale’s converted fund, now hold more than 350,000 Bitcoins, with IBIT leading with 174,000 Bitcoins.</p>
<p>Meanwhile, Grayscale’s GBTC fund has seen a 30% drop to just over 385,000 Bitcoins ($26 billion at current prices) from about 619,000 Bitcoins ($41 billion) since the spot Bitcoin ETFs began trading.</p>
<p>The trading volume for the U.S. spot Bitcoin ETFs also reached a record of $9.75 billion on Tuesday, surpassing the previous record volume of $7.64 billion. This happened as Bitcoin’s price hit a new all-time high of $69,325 on <a href="https://crypto.ro/en/exchange/gdax/" rel="noopener noreferrer nofollow">Coinbase</a>.</p>
<p>The cumulative trading volume for all spot Bitcoin ETFs is now nearing $90 billion.</p>
<p>The price of Bitcoin surpassed its previous all-time high of $69,000 after 846 days. The largest cryptocurrency by market cap has seen a nearly 350% increase since reaching a low of over $15,000 in November 2022. However, the price of Bitcoin subsequently fell swiftly within minutes, dropping by over $10,000, or nearly 15%, to a low of around $59,225.</p>
<p>Bitcoin has since recovered and is currently trading for $66,302.</p>

Record $788 Million Daily Inflow for BlackRock’s Bitcoin ETF Breaks New Ground

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