Summary
TLDR: US spot bitcoin ETFs saw a record $1 billion in net inflows, with BlackRock’s IBIT leading with $849 million. VanEck waived fees on their Bitcoin Trust, Grayscale’s GBTC saw $79 million in outflows. Bitcoin’s price climbed to $73,300, setting new highs. BlackRock’s IBIT has over $15 billion in assets, second only to GBTC. Trading volume for the ETFs reached $8.5 billion, with IBIT accounting for half of it.
Key Points
1. The 10 US spot bitcoin ETFs collectively saw a daily net inflow record of over $1 billion, with BlackRock’s iShares Bitcoin Trust leading the way with a daily inflow total of $849 million.
2. The Ark 21Shares Bitcoin ETF and VanEck Bitcoin Trust also saw above-average flows of $93 million and $83 million, respectively.
3. The boost in inflows for VanEck’s product came after the company announced it would waive its 0.20% sponsor fee on the first $1.5 billion of fund assets until March 31, 2025.