Key Points
- U.S. spot Bitcoin ETFs have accumulated over $100 billion in total assets, with BlackRock’s IBIT and Grayscale’s GBTC leading the pack at $45.4 billion and $20.6 billion respectively.
- Bitcoin continues its historic rally, trading at approximately $97,094, while spot ETFs maintain strong daily inflows exceeding $700 million.
Record-Breaking Assets Under Management
The cryptocurrency market witnessed a significant milestone as U.S. spot bitcoin exchange-traded funds (ETFs) surpassed $100 billion in total net asset value on Wednesday. According to SoSoValue, The 12 spot bitcoin ETFs now collectively hold $100.55 billion, representing approximately 5.4% of bitcoin’s total market capitalization, according to SoSoValue data.
BlackRock’s IBIT has emerged as the dominant player in the space, managing $45.4 billion in net assets, while Grayscale’s GBTC follows with $20.6 billion. This achievement comes amid bitcoin’s continued price surge, with the cryptocurrency reaching multiple all-time highs in recent weeks.
Strong Daily Trading Activity and Inflows
The ETFs demonstrated robust trading activity, with Wednesday’s total trading volume reaching $5.09 billion, slightly down from Tuesday’s $5.71 billion. The funds recorded impressive net inflows of $733.5 million on Wednesday, following Tuesday’s even stronger showing of $837.36 million.
IBIT led the day’s inflows with $626.5 million, while Fidelity’s FBTC attracted $133.9 million. Other notable contributions came from Bitwise’s BITB and Ark and 21Shares’ ARKB, with inflows of $9.3 million and $3.8 million respectively. Interestingly, GBTC reported no flows for the day.
Contrasting Ethereum ETF Performance
In contrast to the success of Bitcoin ETFs, spot Ethereum ETFs in the U.S. market have faced challenges, experiencing their fifth consecutive day of negative flows with $30.3 million in net outflows on Wednesday. Trading volume for the nine ether ETFs also declined, dropping to $338.3 million from the previous day’s $345.1 million, highlighting the divergent trajectories of Bitcoin and Ethereum investment products.
