BlackRock's iShares Bitcoin Trust (IBIT) Continues its Streak of Strong Inflows

BlackRock's iShares Bitcoin Trust (IBIT) continued its streak of strong inflows, leading Bitcoin ETFs for six consecutive trading sessions.

A report by Sosovalue has shown that 12 Bitcoin (BTC) exchange-traded funds (ETFs) pulled in more than $785 million in the last six days.

Specifically, the 12 Bitcoin ETFs collectively held $94.35 billion worth of BTC by March 22, which is about 5.65% of Bitcoin’s total market capitalization.

On March 21 alone, the 12 ETFs tracked—which include BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Bitcoin Trust (BTC)—pulled in more than $83 million. IBIT contributed the most to the rise in trading volume, which reached $1.3 billion by the same date.

The ten other funds—which are Factor’s BTC Factor ETF, Global X Bitcoin ETF, iM Global's Bitcoin ETF, Invesco Bitcoin Trust, and seven other Bitcoin ETFs—showed little or no change over the past six inflow sessions.

Furthermore, cumulative net ETF inflows reached $36.05 billion as of March 21.

The report also noted that IBIT had a rolling total net inflow of almost $40 billion, while Fidelity Capital had total net inflows of $11.48 billion. However, it had no inflows on March 21.

Also, the other ten funds displayed minor or no variations over the past six inflow sessions.

Meanwhile, the Bitcoin ETFs saw inflows of $785 million in the last week of trading, according to a report by Farside Investors.

The report noted that IBIT saw the largest inflows with over $486 million, followed by Fidelity’s FBTC with $70 million and Ark Invest’s ARKB with a little over $100 million in inflows during this period.

However, U.S. spot ether ETFs witnessed outflows of about $18.63 million. Analysts pointed out the outflows were caused by Blackrock’s ETHA and Grayscale’s ETH Mini Trust, which recorded losses of $11.94 million and $6.69 million, respectively.

Earlier this month, the U.S. Securities and Exchange Commission (SEC) again postponed its decision on several spot ether ETF applications from hedge fund managers.

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