American bitcoin ETFs have reached a new milestone after attracting more than one billion dollars in net inflows for the first time on March 12.
Investments in spot bitcoin ETFs continue to grow as daily inflows exceeded 11.1 billion dollars over the last 13 days. The largest daily inflow ever of 1.045 billion dollars was primarily contributed by BlackRock’s iShares Bitcoin ETF (IBIT).
IBIT recorded an inflow of 849 million dollars, while the ARK 21Shares Bitcoin ETF (ARK), VanEck Bitcoin Trust ETF (HOLD), and Fidelity Advantage Bitcoin ETF (FBTC) recorded relatively smaller contributions of 93 million dollars, 82.9 million dollars, and 51.6 million dollars, respectively.
As a direct result of massive inflows and supportive growth, the daily capital inflow storing bitcoin on the blockchain has just reached 2 billion dollars per day, marking another milestone for the ecosystem.
Additionally, the market price of bitcoin reached a new high of 73,600 dollars.
Among the approved bitcoin ETFs in the US, the Franklin Bitcoin ETF (EZBC) recorded the lowest inflow of 148 million dollars so far, while IBIT holds a majority share of 11.4 billion dollars. On the other end of the spectrum, Grayscale Bitcoin Trust (GBTC) is reducing net outflows on a daily basis. Overall, GBTC has lost 11.1 billion dollars over the last 13 days.
Grayscale’s GBTC fell below 50 percent market share for the first time since spot bitcoin ETFs began trading in the US on January 11.
On the first day of trading for 10 American spot bitcoin ETFs, Grayscale’s fund accounted for about 99.5 percent of total assets under management. However, consistent daily outflows from GBTC, which averaged 329 million dollars per day last week, have gradually reduced the ETF’s market share.
