Blackrock’s IBIT Leads Bitcoin ETFs with $98.89M Inflows, as Total BTC Holdings Reach $58.67 Billion

• The U.S. spot market for bitcoin and ether ETFs experienced a robust day with notable inflows.
• Blackrock’s IBIT led the charge among bitcoin ETFs, drawing in $98.89 million.
• Bitwise’s BITB followed with an inflow of $17.41 million, and Fidelity’s FBTC pulled in $16.8 million. Grayscale’s Mini Bitcoin Trust contributed $2.85 million.

Discover how U.S. spot bitcoin and ether ETFs performed with fresh inflows, bolstering their market presence amidst a fluctuating financial landscape.

Increased Inflows for Bitcoin ETFs

The U.S. spot bitcoin ETFs have shown significant inflows, with Blackrock’s IBIT leading by accumulating $98.89 million. This shows a strong market confidence and a rising interest among investors. Bitwise’s BITB added another $17.41 million, followed closely by Fidelity’s FBTC at $16.8 million. Grayscale’s Mini Bitcoin Trust added a smaller, yet notable, $2.85 million.

Overall Market Performance

The cumulative inflow of approximately $136 million elevates the total net inflows since January 11th to $17.83 billion. According to data from sosovalue.xyz, the trading volume was around $1.11 billion for the day. Currently, these 12 funds collectively hold $58.67 billion in BTC, which accounts for 4.62% of Bitcoin’s total market capitalization.

Strong Performance of Ether ETFs

Ether ETFs have also performed remarkably, with total inflows reaching $62.51 million. Blackrock’s ETHA continued to dominate the ether ETF arena, pulling in $59.25 million. Vaneck’s ETHV managed to attract $1.94 million, whereas Invesco’s QETH garnered $1.32 million.

Reducing Net Outflows

Significant inflows in ether ETFs have mitigated the cumulative net outflows, which now stand at $624.17 million since July 23. These nine funds now collectively control $7.2 billion in ETH, accounting for 2.26% of ether’s market cap. The trading volume across these nine ether ETFs was a hefty $180.42 million.

Conclusion

The recent influx of funds into both bitcoin and ether ETFs underlines the growing investor confidence and interest in these crypto assets. As bitcoin and ether ETFs continue to gain traction, their increasing holdings signify their importance in the broader financial market. Investors can anticipate further developments as these funds continue to shape and influence the market landscape.