BlackRock Bitcoin ETF Sees Increased Inflows: Reaching Massive Sizes!

  • Spot Bitcoin ETFs witnessed another significant inflow of $477 million with the 15th consecutive entry, as demand continues to rise against the supply.
  • According to the latest data from BitMEX Research, spot Bitcoin ETFs recorded a net inflow of $477.4 million on Thursday.
  • BlackRock maintains its leadership by a wide margin, surpassing a total inflow of $5.17 billion, and the asset value of 115,991.3 BTC has exceeded $6 billion.

Spot Bitcoin ETFs are gaining more demand following the resurgence in the BTC market: BlackRock stands out!

BlackRock Attracts More Inflows

BlackRock

Spot Bitcoin ETFs witnessed another significant inflow of $477 million with the 15th consecutive entry, as demand continues to rise against the supply. BlackRock’s iShares Bitcoin ETF assets surpassed $6 billion, and Bitwise Bitcoin ETF had its second-largest day since the launch of spot Bitcoin ETFs.

According to the latest data from BitMEX Research, spot Bitcoin ETFs recorded a net inflow of $477.4 million on Thursday. With the latest entry, Bitcoin ETFs have seen more than 61,800 BTC in net inflows in the last 7 days.

BlackRock’s iShares Bitcoin ETF (IBIT) experienced a remarkable increase of $339.9 million on Thursday. Bitwise Bitcoin ETF (BITB) follows with an entry of $120.2 million. However, Fidelity Bitcoin ETF (FBTC) saw a slower entry on Thursday, totaling $97.4 million.

BlackRock maintains its leadership by a wide margin, surpassing a total inflow of $5.17 billion, and the asset value of 115,991.3 BTC has exceeded $6 billion.

There was an outflow of $174.6 million in GBTC, showing an increase from Wednesday’s outflow of $131.2 million. Therefore, the net inflow for spot Bitcoin ETFs, excluding GBTC, was actually $652 million.

BlackRock and Fidelity Wise Origin Bitcoin ETFs currently hold over 10.3 billion dollars worth of BTC. The ETFs are acquiring 10,000 bitcoins daily above the standard rebalancing, reflecting in the price increase. However, the supply is still at a relatively low level.

Concerns Over High Demand for Bitcoin

On Friday, Senior Analyst Vetle Lunde at K33 Research stated that the net spot ETF inflow in the United States has now surpassed 100,000 BTC. This is equivalent to two-thirds of the annual decrease in BTC supply after the upcoming halving.

Bitcoin maximalist Samson Mow expressed concerns about the high demand coming from spot Bitcoin ETFs. He said, ‘This level of demand is not sustainable at current Bitcoin prices.’

Demand has surpassed the supply by 10 times, receiving more than other sources. Michael Saylor of MicroStrategy also mentioned in a recent interview that demand has increased tenfold compared to the supply.

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Gideon Wolf
Gideon Wolfhttps://en.coinotag.com/
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.
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