US Spot Bitcoin ETFs Took in $1B in Daily Total Net Inflows Yesterday as BTC Inches Closer to the $100k Mark

BlackRock’s iShares Bitcoin Trust (IBIT) saw the most inflows, attracting $608.41 million, according to SoSoValue data. Fidelity’s FBTC followed with

US spot Bitcoin exchange-traded funds (ETFs) saw $1 billion in daily total net inflows on Monday as BTC edged closer to the $100k mark.

BlackRock’s iShares Bitcoin Trust (IBIT) saw the most inflows with $608.41 million, according to SoSoValue data. Fidelity’s FBTC followed with $300.95 million. Bitwise’s Bitcoin ETF saw inflows of $68 million, while Ark and 21Shares’ ARKB saw inflows of $17.18 million.

Only Grayscale’s GBTC saw negative net flows with outflows of $7.8 million.

The 12 spot Bitcoin ETFs have seen a total of $30.35 billion in inflows since launching in January following approval from the US Securities and Exchange Commission (SEC).

The increased trade among the spot Bitcoin ETFs followed as Bitcoin approached the $100k mark on November 22, continuing in its bull run.

The inflows also come after BlackRock launched its options contracts earlier this week. On its first day of trading, BlackRock’s options saw nearly $2 billion in inflows, helping to push Bitcoin to more than $94,000.

Grayscale also announced this week that it would be launching Bitcoin ETF options following BlackRock’s strong debut and a surge in interest from investors.

As trade continues through spot Bitcoin ETFs, it’s becoming clear that they are now one of the main avenues for investors to hold Bitcoin. According to Bloomberg analyst Eric Balchunas, US Bitcoin ETFs hit $100 billion in assets, adding on:

“They’re now 97% of [the] way to passing Satoshi as [the] biggest holder and 82% of [the] way to passing gold ETFs.”

Speaking of "100" milestones, the US bitcoin ETFs hit $100b in assets (altho more like $104b given the price surge overnight) w/ YTD flows flirting with $30b (double our estimate). They're now 97% of way to passing Satoshi as biggest holder and 82% of way to passing gold ETFs. pic.twitter.com/Y3070yW7Jx

— Eric Balchunas (@EricBalchunas) November 21, 2024

Meanwhile, in the market, ETH is up by more than 7% over the past week at $3,285, SOL saw a nearly 20% increase at $253, and XRP rose close to 60% to $1.44 in the same time, according to CoinMarketCap.

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Categories: Blockchains, Cryptocurrency, Finance, Markets, News, Technology

Tags: Ark 21Shares, BlackRock, Bitcoin, Bitwise, BTC, Cryptocurrency, Digital Assets, Digital Currency, ETF, Exchange-Traded Fund, Fidelity, Grayscale, IBIT