Bitcoin ETFs Hit $50.5 Billion in Cumulative Net Inflows in First Year

Nearly a year after the January launch of US-based spot Bitcoin exchange-traded funds (ETFs), the funds have seen remarkable growth.

Inflows into all 12 funds exceeded 500,000 BTC.

Spot Bitcoin ETFs attract over 500,000 BTC

In an article $5 billion at current price.

Notably, BlackRock’s iShares Bitcoin Trust (IBIT) had reached this stage early. The fund became the fastest ETF in history to exceed $50 billion in assets under management (AUM), a feat it achieved in 228 days, breaking the previous record of 1,329 days.

However, since Grayscale’s Bitcoin Trust had mostly seen negative flows, cumulative net inflows into the 12 U.S. spot Bitcoin ETFs took longer to reach the 500,000 BTC milestone.

Lunde added: “US ETFs have absorbed over 2.5% of the outstanding supply since their launch in January. » According to data from CoinMarketCap, the circulating supply of Bitcoin currently stands at 19.7 million BTC, with a supply cap of 21 million BTC.

Bitcoin ETFs extend inflow streak amid price surge

Funds have seen an inflow streak over the past two weeks, with Wednesday being the 10th consecutive day of inflows. Net inflows into spot bitcoin ETFs totaled $223 million on Wednesday, according to data from SoSo Value.

Fidelity’s FBTC led inflows with $121.9 million in new investments. GBTC and ARKB saw entries of $52.27 and $20.13, respectively. BlackRock’s IBIT, however, maintained neutral flows.

According to the data, total net inflows into the 12 spot BTC ETFs in the United States amounted to $34.58 billion. Growing institutional interest in Bitcoin has largely contributed to sustained inflows into Bitcoin spot ETFs.

The latest inflows coincided with BTC’s recent rally, which saw the leading cryptocurrency trade above $100,000. BTC is trading at $100,879 at press time.