Spot Bitcoin (CRYPTO: BTC) ETFs recorded the third-biggest day of inflows since their launch on Jan. 10, 2024 as two spot Bitcoin ETFs topped the chart for all ETF inflows after one month.
Each ETF crossed $3 billion in total assets.
What Happened: Bloomberg Senior ETF analyst Eric Balchunas highlighted BlackRock’s iShares Bitcoin Trust (NASDAQ: IBIT), and Fidelity’s Wise Origin Bitcoin Fund (BATS: FBTC) as leaders among the Top 25 ETFs by asset inflows one month into their launch.
IBIT boasts of $3.75 billion in assets, while FBTC stands at $3.16 billion. Notably, both ETFs have reported inflows on all days since their launch.
Other spot Bitcoin ETFs that made the list are ARK 21Shares’ spot Bitcoin ETF (BATS: ARKB) and Bitwise Bitcoin Fund (NYSEARCA: BITB), with total assets of $845.2 million and $791 million, respectively.
Cointucky Derby Update. BIG net inflow day of over $400 mln. With almost 8 of the newborn nine took in money yesterday. $FBTC officially crossed $3 billion in AUM. $GBTC outflow streak continues with -$101.6 mln out pic.twitter.com/4RX4RsVxki
— James Seyffart (@JSeyff) February 9, 2024
Read Also: Bitcoin Surges Past $45,000: ‘ETFs Are Having Bitcoin For Dessert,’ Says Analyst
Why It Matters: On Thursday, spot Bitcoin ETFs experienced their third-largest day of inflows ($4.5 billion) since their launch. The top two inflow days thus far are Jan.30 ($6.86 billion) and Jan. 19 ($4.81 billion). The strong demand has contributed to push Bitcoin over the $47,000 mark for the first time after the Spot Bitcoin ETF approval, recording its biggest weekly surge in four months.
Balchunas noted that for a newly launched ETF, it typically takes five to 10 years to surpass the previously leading ETFs in terms of liquidity. However, spot Bitcoin ETFs have done so in less than a month.
Crypto investor Fred Krueger highlighted that the nine new Bitcoin ETFs have surpassed MicroStrategy in Bitcoin holdings, indicating their growing influence in the market.
The New9 have overtaken MSTR.
Buh Bye. pic.twitter.com/CIogqLl8MD
— Fred Krueger (@dotkrueger) February 8, 2024
Cryptoslate lead analyst, James Van Straten states that he is impressed with Bitcoin ETF flows coming at a time when retail investors think Bitcoin is dead. He also expects inflows to ramp up even…
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