BlackRock’s IBIT Leads the Surge with $72.09 Million as Spot Bitcoin ETFs See Strong Inflows

• Spot Bitcoin ETFs in the U.S. recorded a net inflow of $78.93 million on Thursday, marking the fifth consecutive day of positive flows.
• Leading the inflow was BlackRock’s IBIT with $72.09 million, making it the highest traded ETF with a volume of $725.61 million on Wednesday.
• Following closely was Fidelity’s FBTC with $32.69 million in net inflows. Bitwise’s fund added $7.53 million, while Ark Invest and 21Shares’ ETF contributed an additional $4.31 million.

Spot Bitcoin ETFs in the U.S. see sustained positive inflows, led by BlackRock and Fidelity, highlighting growing investor interest in cryptocurrency funds.

Strong Performance of Spot Bitcoin ETFs Led by BlackRock

BlackRock’s IBIT ETF emerged as the leader with a significant net inflow of $72.09 million. This strong performance underlines investor confidence in BlackRock’s product, which also saw a trading volume of $725.61 million on Wednesday. This highlights the ETF’s growing popularity and underscores its role as a key player in the cryptocurrency investment space.

Fidelity and Bitwise Also Show Robust Gains

Fidelity’s FBTC ETF saw notable inflows of $32.69 million, indicating strong investor interest. Bitwise’s spot Bitcoin fund added $7.53 million in net inflows, further reflecting the growing adoption and interest in Bitcoin-related investment vehicles. These inflows provide a glimpse into institutional and retail sentiment, showcasing sustained confidence in the future of digital assets.

Other Noteworthy Contributions and Outflows

Other significant contributors included Ark Invest and 21Shares’ ETF, collectively adding $4.31 million. However, not all funds saw positive flows. Grayscale’s GBTC experienced a notable net outflow of $37.69 million, reflecting some investor repositioning. Additionally, six other funds, including VanEck’s HODL, reported zero net flows on the same day.

Overall Market Sentiment and Trading Volumes

The total trading volume for U.S. spot Bitcoin funds on July 11 reached $1.31 billion. This figure, although substantial, is considerably lower compared to the $8 billion volumes seen in March. Since the beginning of the year, these ETFs have accumulated a total of $15.5 billion in net inflows, indicating a steady growth trajectory despite recent volume fluctuations.

Conclusion

The consistent inflows into spot Bitcoin ETFs, particularly from major players like BlackRock and Fidelity, emphasize a positive outlook. While some funds like GBTC faced outflows, the overall trend points to sustained interest and confidence in Bitcoin as an investment asset. As the market continues to evolve, these ETFs are likely to play an increasingly significant role in both retail and institutional portfolios, driving further adoption of cryptocurrencies.