The U.S.-traded spot bitcoin ETFs have experienced a significant surge, adding $2.4 billion worth of bitcoin over the past month. This influx follows a period of stagnation and decline after an initial burst of enthusiasm.
BlackRock’s iShares Bitcoin Fund (IBIT) has notably crossed the $20 billion mark in assets under management (AUM). This milestone comes after the U.S.-based spot bitcoin ETFs recorded 15 consecutive sessions of net inflows, propelled by a rally in Bitcoin’s price.
According to Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, the ETFs attracted approximately $2.4 billion in fresh capital over the past month, marking the third-largest net inflow across the entire ETF market. Balchunas commented on this resilience, stating, “The ability to bounce back with renewed interest after a couple of nasty selloffs is rare for hot sauce type strategies. [It] shows staying power.”
Following the initial euphoria surrounding the launch of these spot ETFs, inflows significantly slowed in April, even turning negative for several days—a pattern experts deemed normal. However, since May 16, net inflows have averaged $140 million per day, according to data from Farside Investors. Leading the charge is IBIT, which amassed $1.1 billion in this period, maintaining its position as the strongest performer among the ten funds.
As of yesterday, IBIT held 291,563 bitcoins, valued at $20.15 billion, solidifying its leadership in the spot bitcoin ETF market.
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