Bitcoin ETF snapshot: Segment’s week net inflows hit record $2.5B
Assets under management in global crypto ETPs broke the $100 billion mark for the first time amid BTC price increases and persistent inflows
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Net inflows into the 10 US spot bitcoin ETFs have trended upward again, eclipsing $2 billion for the second straight week.
The $2.5 billion of assets reeled in by the fund category last week beat the previous record of nearly $2.3 billion set between Feb. 12 and Feb. 16, according to BitMEX Research data. That total had been nearly matched from March 4 to March 8.
The US ETFs saw record daily net inflows of $1 billion on March 12 alone, before bitcoin’s (BTC) price hit a new high above $73,600 early the following day. BlackRock’s iShares Bitcoin Trust (IBIT) gathered the lion’s share of those asset gains, with $849 million.
Read more: Bitcoin price rally sparks record ETF inflows of over $1B
Net inflows dropped from $1 billion on March 12 to about $684 million the following day. Net inflows into the US spot bitcoin ETFs on Thursday and Friday amounted to $133 million and $199 million respectively, according to Farside Investors data.
Fineqia International research analyst Matteo Greco said in a Monday research note that trading volumes in the category hit $28 billion last week. That $5.6 billion daily trading volume average is well above the roughly $3.15 billion in average daily trading volumes the 10 funds have seen since inception, he added.
“These figures underscore the sustained momentum of investments from traditional finance into the digital assets space,” Greco wrote. “Despite BTC’s price stability last week, the demand primarily stems from ETFs, while native digital assets investors are more active on the selling side.”
Read more: SEC postpones decisions on bitcoin ETF options proposals
Year-to-date net inflows for IBIT and the Fidelity Wise Origin Bitcoin Fund (FBTC) rank in the top five of all ETFs, Bloomberg Intelligence analyst Eric Balchunas noted in a Monday X post.
Other funds to see as much, or more, in that timeframe are the Vanguard S&P 500 ETF (VOO); BlackRock’s iShares Core S&P 500 ETF (IVV); and the Vanguard Total Stock Market Index Fund ETF (VTI).
More broadly, crypto investment products — including, but not limited to the US spot bitcoin ETFs — reached a new weekly net inflow peak of $2.9 billion last week, according to CoinShares.
While the US inflows remained strong, products in Canada, Germany, Sweden and Switzerland combined for $78 million of net outflows.
Global crypto ETPs eclipsed the $100 billion assets under management mark for the first time, CoinShares research head James Butterfill wrote in a Monday report. The asset level dipped to about $97 billion by the week’s end as crypto prices dropped.
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