A month after launch, spot bitcoin ETF weekly net inflows hit new high

The net inflows into US spot bitcoin funds nearly doubled from $700 million to $1.2 billion week over week, as GBTC outflows continue to slow

share

Bitcoin spot ETFs in the US just hit a new record for weekly cash flow as they wrapped up their first month on the market.

Last week, these funds received approximately $1.2 billion in assets. BitMEX research reports that this nearly doubles the $700 million from the week before. This increase coincides with a slowdown in withdrawals from another major Bitcoin fund, the Grayscale Investments’ Bitcoin Trust ETF (GBTC).

The fastest-growing US spot bitcoin funds also made ETF history. 

Fidelity Investments’ Wise Origin Bitcoin Fund (FBTC) eclipsed $3 billion in assets last week, joining BlackRock’s iShares Bitcoin Trust (IBIT) in that club.  

Read more: BlackRock-Fidelity bitcoin ETF asset race ‘a heavyweight fight that can go either way’ 

No other ETF — over three decades and more than 5,000 launches — has reached the asset level hit by IBIT and FBTC within a month after launch, according to Bloomberg Intelligence analyst Eric Balchunas. 

The list excludes mutual fund-to-ETF conversions and GBTC, Balchunas added in an X post, noting that such funds can bring over pre-existing assets. GBTC, for example, had about $28 billion in assets when it converted to an ETF on Jan. 11. That total has fallen to about $22 billion.

Loading Tweet..

IBIT and FBTC had grown to about $4.2 billion and $3.5 billion in assets as of Friday, BitMEX Research data indicates.

Two other US spot bitcoin funds — the Ark 21Shares Bitcoin ETF (ARKB) and the Bitwise Bitcoin ETF (BITB) — made the list of top 25 asset gatherers in their first month. ARKB hit the $1 billion assets under management mark, while BITB was at $860 million, BitMEX Research data shows.

In addition to this rapid growth, the segment’s four flow leaders have seen net inflows every day during their first month of trading — a phenomenon Balchunas said was “literally unprecedented.”

Some have compared the new bitcoin ETFs to the largest physically backed commodity ETF: State Street Global Advisors’ SPDR Gold Shares (GLD), which launched in 2004.

Read more: To gauge impact of bitcoin spot ETF, analysts look to gold

But ETF.com data shows that GLD saw positive net flows during just eight days in its first month trading — a stat highlighted by Bitwise Chief Investment Officer Matt Hougan in a Friday X post.

“The sustained demand we’re seeing in bitcoin ETFs is remarkable,” Hougan wrote.  

Overall, global crypto investment products brought in $1.1 billion, according to CoinShares data, driven by the $1.2 billion into US spot bitcoin funds. The net inflows surpassed those seen during the prior week when $708 million entered crypto products.

Outflows endured by GBTC decreased to about $415 million last week — down from $927 million the week before.   

Read more: New bitcoin ETFs overcome GBTC asset losses, yielding strong inflow week

Matteo Greco, a research analyst at Fineqia International, observed a significant decrease in daily outflows from GBTC. Initially, when it started trading as an ETF, outflows were around $500 million during the first two weeks. Last week, this figure dropped to roughly $83 million, marking an almost 85% decline.

“The substantial reduction in GBTC outflows began on Jan. 26, coinciding with the beginning of a consistent influx into BTC spot ETFs, resulting in 11 consecutive days of net inflows,” he wrote in a Monday research note. 

The slowing outflows from GBTC and continued assets entering IBIT and FBTC and others has been a driver of bitcoin’s recent price appreciation, Greco added.

Bitcoin’s (BTC) price was at about $48,700 at 10 am ET on Monday — up 12.5% from seven days ago.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Featured.png

Research

Helium stands at a pivotal moment in its evolution as a decentralized wireless network, balancing rapid growth, economic restructuring, and global expansion. With accelerated growth in domestic DAUs and Hotspots supporting its network, Helium is leveraging strategic partnerships and innovative proposals to scale internationally. The recent implementation of HIP 138, “Return to HNT,” has unified its token economy under HNT, simplifying participation and strengthening liquidity, while HIP 139’s phase-out of CBRS refocuses efforts on scalable Wi-Fi offload. Meanwhile, governance shifts under HIP 141 raise questions about centralization as Nova Labs consolidates control over the roadmap.

article-image

“Be prepared to do more with less,” Framework Ventures’ Michael Anderson said

article-image

Q1 may have been “frustrating,” but things are looking brighter for Q2

article-image

Tokens worth 20% of the current supply of the TRUMP memecoin launched by the president are set to be unlocked tomorrow

article-image

A crypto-industry lawsuit is “moot” now that Joint Resolution 25 has been signed into law

article-image

Fed Chair Powell assured markets that the labor market is in “good place,” dependent on price stability

article-image

As uncertainty reigns, the Philly Fed manufacturing index fell to a multi-year low, but layoffs have slowed