Summary
TLDR: Net inflows into US spot bitcoin ETFs surpass $2 billion for second consecutive week, with record daily inflows of $1 billion. Trading volumes in the category reach $28 billion, showing sustained momentum from traditional finance. Year-to-date net inflows for IBIT and FBTC rank in top five of all ETFs. Global crypto investment products reached new weekly net inflow peak of $2.9 billion, but assets under management dipped as crypto prices dropped.
Key Points
1. Net inflows into the 10 US spot bitcoin ETFs have trended upward again, eclipsing $2 billion for the second straight week.
2. The US ETFs saw record daily net inflows of $1 billion on March 12 alone, before bitcoin’s (BTC) price hit a new high above $73,600 early the following day. BlackRock’s iShares Bitcoin Trust (IBIT) gathered the lion’s share of those asset gains, with $849 million.
3. Year-to-date net inflows for IBIT and the Fidelity Wise Origin Bitcoin Fund (FBTC) rank in the top five of all ETFs. Other funds to see as much, or more, in that timeframe are the Vanguard S&P 500 ETF (VOO); BlackRock’s iShares Core S&P 500 ETF (IVV); and the Vanguard Total Stock Market Index Fund ETF (VTI).