Spot Bitcoin ETFs See Continued Inflows, Led by BlackRock's iShares Bitcoin Trust

On April 23, net daily capital inflows into spot Bitcoin ETFs reached $31.64 million, marking a continuation of the positive trend seen over the past three trading days. The iShares Bitcoin Trust (IBIT) crypto fund led the inflows with $37.92 million, followed by products from ARK Invest and 21 Shares and Bitwise. Despite outflows from VanEck's HODL fund and BTCO, IBIT has recorded capital inflows for 70 days, entering the top 10 exchange-traded funds with the longest inflow streaks.

Spot Bitcoin ETFs Experience Sustained Capital Inflows, With BlackRock's iShares Bitcoin Trust (IBIT) Leading the Charge

On April 23, spot Bitcoin exchange-traded funds (ETFs) recorded a cumulative capital inflow of $31.64 million, marking a continuation of the positive trend observed over the past three trading days. Despite a decline from $62 million on April 22, inflows have remained robust, amounting to $153.29 million during this period, according to data from SoSo Value.

BlackRock's iShares Bitcoin Trust (IBIT) emerged as the frontrunner in capital inflows, adding $37.92 million to its assets under management (AUM), which now stand at an impressive $15.48 billion. This significant inflow further solidifies IBIT's position as a dominant player in the spot Bitcoin ETF market.

Trailing IBIT in capital inflows were investment products from ARK Invest and 21 Shares ($33.28 million) and Bitwise ($23.23 million), respectively. The remaining Bitcoin ETFs collectively received a total of $6.3 million.

However, VanEck's HODL fund and BTCO from Invesco and Galaxy Digital, respectively, experienced net outflows of $1.88 million and $332,480.

IBIT's remarkable performance has extended its capital inflow streak to an impressive 70 days, propelling it into the top 10 best exchange-traded funds based on this indicator. Eric Balchunas, Senior ETF Analyst at Bloomberg, highlighted this achievement on Twitter, noting that IBIT's streak could potentially place it alongside $JETS, a fund that previously exhibited a similarly impressive inflow streak.

IBIT's AUM has now reached a substantial $18.18 billion. BlackRock has recently expanded its network of authorized partners for its spot Bitcoin ETF, allowing investors to purchase and redeem shares using fiat currency.

The positive sentiment surrounding spot Bitcoin ETFs has also been evident in other markets. On April 15, Hong Kong approved spot ETFs for Bitcoin and Ethereum, with the HashKey Capital and Bosera Capital fund set to commence trading on April 30. This move is expected to further fuel the adoption and accessibility of cryptocurrencies in the region.

The sustained capital inflows into spot Bitcoin ETFs indicate continued institutional interest and investor confidence in the cryptocurrency. As these funds gain traction and expand their reach, they are poised to play a significant role in shaping the future of Bitcoin and the broader digital asset ecosystem.