Spot BTC EFT IBIT Exceeds $10 Billion in AUM

Crypto News – BlackRock’s IBIT spot bitcoin exchange-traded fund secured its second-largest daily inflows since its introduction on January 11, and on Thursday, it crossed $10 billion in assets under management in under seven weeks.

Spot BTC EFT IBIT Exceeds $10 Billion in AUM

In terms of bitcoin, Fidelity‘s FBTC has assets above 105,000 BTC, while the IBIT fund has more than 162,000 BTC under control.

For context, only about 150 out of 3,400 ETFs have more than $10 billion in AUM. The vast majority of those launched 10+ years ago.

Nate Geraci, The ETF Store President

Third place goes to Ark Invest 21 Shares’ ARKB, which has more than 34,000 BTC. The assets of the recently launched nine spot bitcoin ETFs currently surpass 344,000 BTC. Since the spot bitcoin ETFs started trading, Grayscale’s higher-cost GBTC fund has decreased by 30%, from roughly 619,000 BTC to a little over 432,000 BTC.

Grayscale Sees $598.9 Million Outflow

According to BitMEX Research, IBIT saw inflows of $603.9 million yesterday, falling short of the record inflows of $612.1 million it produced on Wednesday. Nevertheless, $598.9 million in withdrawals from Grayscale‘s converted fund—the second-largest to date—essentially negated this.

This is likely to be primarily caused by switching to U.S. ETFs, but also perhaps some profit taking. Since 11th Jan 2024, there has been $344m outflow from the big 6 European bitcoin ETPs, $50m of which occurred on 29th Feb 2024.

the BitMEX Research analysts

Thursday’s net inflows for all U.S. spot bitcoin ETFs combined were $92.4 million, a sharp decline from Wednesday’s record net inflows of $673.4 million.

In addition, on Thursday, trading volume for the U.S. spot bitcoin ETFs reached a new high of $4.74 billion, surpassing the record set on Wednesday when the price of bitcoin touched a high of $64,000.

The Block’s data dashboard shows that BlackRock’s IBIT led yesterday’s trading volume once again, registering $1.9 billion. Grayscale’s GBTC and Fidelity’s FBTC generated $1.37 billion and $1.01 billion, respectively.