Bitcoin price rally sparks record ETF inflows of over $1B
Assets under management within BlackRock’s iShares Bitcoin Trust (IBIT) stands at about $15 billion following fund’s record day
Artwork by Crystal Le
The 10 US spot bitcoin ETFs collectively shattered their daily net inflow record Tuesday as more than $1 billion of investor assets entered the funds.
BlackRock’s iShares Bitcoin Trust (IBIT) was again the category standout, notching an all-time high daily inflow total of $849 million, according to BitMEX Research data.
The Ark 21Shares Bitcoin ETF (ARKB) and the VanEck Bitcoin Trust contributed above-average flows of $93 million and $83 million, respectively.
The boost for VanEck’s product comes after the company said it would waive its 0.20% sponsor fee on the first $1.5 billion of fund assets until March 31, 2025.
Grayscale Investments’ Bitcoin Trust ETF (GBTC), which has bled more than $11.1 billion in assets since converting to an ETF on Jan. 11, saw just $79 million of outflows Tuesday. That outflow total was down from $494 million the day prior.
Read more: Bitcoin ETF snapshot: GBTC competitors surpass Grayscale fund in AUM
The $1 billion of net inflows across the 10 bitcoin funds easily surpassed the segment’s previous daily record of $673 million, set on Feb. 28, BitMEX data shows.
The ETF flow spike came as bitcoin’s price has continued its climb, setting multiple new all-time highs over the past eight days.
BTC’s price stood at about $73,300 at 7 a.m. ET on Wednesday — up about 15% from a week ago. The asset’s price had risen above $73,600 a few hours prior, marking a new record.
The assets under management in BlackRock’s IBIT rose above $15 billion at market close Tuesday — behind only GBTC, which has roughly $27.7 billion of assets.
The Fidelity Wise Origin Bitcoin Fund (FBTC) is the group’s third-largest fund, managing about $9.2 billion in assets.
Tuesday marked the second-best trading volume day for the 10 US spot bitcoin ETFs, according to Bloomberg Intelligence data — as investors traded roughly $8.5 billion worth of the funds’ shares.
IBIT’s trading volumes on Tuesday represented nearly half of those across the segment, at about $4 billion.
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