Bitcoin ETFs Cumulative Net Inflows Worth $51 billion
Vetle Lunde, the head of research at the digital assets research firm K33, wrote on X that spot bitcoin ETFs currently have 500,925 BTC in cumulative net inflows, more than $505 billion at the current price. Earlier, BlackRock’s iShares Bitcoin Trust (IBIT) accomplished this milestone.
The fund broke the previous record of 1,329 days to become the fastest ETF in history to surpass $50 billion in assets under management (AUM), which it accomplished in 228 days.
However, the cumulative net inflows into the 12 US spot bitcoin ETFs took longer to reach the 500,000 BTC milestone because Grayscale’s Bitcoin Trust had primarily seen negative flows. Lunde also stated that ETFs have taken up over 2.5 percent of the available supply. Bitcoin’s circulating supply is currently 190.7 million BTC, with a supply cap of 21 million BTC.
Over the past two weeks, the funds have been flowing in, and Wednesday marks the tenth day in a row. SoSo Value data shows that $223 million was in net inflows into spot bitcoin ETFs on Wednesday.
The largest inflows were $121.9 million in new investment in Fidelity’s FBTC. Inflows were $52.27 for GBTC and $20.13 for ARKB. On the other hand, BlackRock’s IBIT kept neutral flows.
According to the data, $34.58 billion was invested in the 12 US spot Bitcoin ETFs overall. The consistent inflows into spot bitcoin ETFs have been largely attributed to growing institutional interest in bitcoin. The recent BTC rally coincided with the most recent inflows which saw the top cryptocurrency trading above $99K as of press time,
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