BlackRock’s iShares Bitcoin Trust Leads with $117.25 Million Net Inflow in Record Week for US Bitcoin ETFs

  • U.S. spot Bitcoin exchange-traded funds (ETFs) reported a daily net inflow of $301 million on Monday, marking the seventh consecutive day of positive flows.
  • The 11 U.S.-based spot Bitcoin ETFs have collectively garnered a net inflow of $16.11 billion since their debut in January.
  • The largest U.S. spot Bitcoin ETF by net asset value, BlackRock’s iShares Bitcoin Trust (IBIT), led the group with a net inflow of $117.25 million and recorded the highest daily trading volume at $1.24 billion.

Recent movements in U.S. spot Bitcoin ETFs reflect mounting institutional interest and significant market activity.

BlackRock’s Dominance in Spot Bitcoin ETF Inflows

BlackRock’s iShares Bitcoin Trust (IBIT) reported a substantial net inflow of $117.25 million, positioning it as the day’s leader among spot Bitcoin ETFs. The fund’s trading volume for the day reached an impressive $1.24 billion, underscoring its dominance and appeal within the market.

Other Leading ETFs and Market Players

Closely following BlackRock, Ark Invest and 21Shares’ ARKB secured a net inflow of $117.19 million, demonstrating robust investor confidence. Fidelity’s FBTC reported $36.15 million in net inflows, while Bitwise’s BITB saw $15.24 million come in. Other noteworthy contributors include VanEck, Invesco, Galaxy Digital, and Franklin Templeton, each reporting positive net inflows.

Grayscale and Other ETFs See No Movement

Contrasting with the inflows into other ETFs, Grayscale’s GBTC along with Valkyrie, WisdomTree, and Hashdex reported no new inflows on Monday. The lack of movement in these funds highlights a possible shift in investor preferences within the Bitcoin ETF market.

Market Activity and Historical Comparison

Despite the overall positive performance, U.S. spot Bitcoin funds recorded a total trading volume of $2.26 billion on Monday. This figure, while significant, pales in comparison to the record-high volumes seen in March, which surpassed $8 billion over several days.

Industry Insights: BlackRock CEO’s Remarks

BlackRock co-founder and CEO, Larry Fink, acknowledged Bitcoin’s growing legitimacy as a financial asset during a CNBC interview, retracting his previous skepticism. Fink’s remarks reflect a broader acceptance of cryptocurrency within traditional finance circles.

Spot Ethereum ETFs on the Horizon

Looking forward, sources have confirmed that two U.S. issuers plan to launch spot Ethereum ETFs on July 23rd. This development could further amplify institutional adoption and investor interest in the cryptocurrency sector, providing new avenues for market growth.

Conclusion

The consistent net inflows into U.S. spot Bitcoin ETFs highlight a growing institutional interest and evolving confidence in cryptocurrency investments. As the market continues to mature, the introduction of new products such as spot Ethereum ETFs may offer additional opportunities for investors, further legitimizing digital assets within the financial ecosystem.

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