Bitcoin spot exchange-traded funds (ETFs) in the United States have reached a significant milestone, attracting over $1 billion in net inflows for the first time on March 12.
Investments in spot Bitcoin ETFs continue to rise, with daily inflows surpassing $11.1 billion over the past 13 days. On March 12, Bitcoin ETFs experienced their highest daily inflow ever, with $1.045 billion coming in, mostly contributed by BlackRock’s iShares Bitcoin ETF (IBIT).
IBIT accounted for $849 million of the inflow, while other ETFs like ARK 21Shares Bitcoin ETF (ARK), VanEck Bitcoin Trust ETF (HOLD), and Fidelity Advantage Bitcoin ETF (FBTC) had lower contributions of $93 million, $82.9 million, and $51.6 million, respectively.
The massive inflows into Bitcoin ETFs, combined with a bullish market, have resulted in daily capital inflows into the Bitcoin network exceeding $2 billion, marking another milestone for the ecosystem.
Additionally, the price of Bitcoin has reached a new high of $73,000 at the time of writing.
Among the approved Bitcoin ETFs in the U.S., Franklin Bitcoin ETF (EZBC) has recorded the lowest inflows to date at $148 million, while IBIT holds the majority with $11.4 billion. On the other hand, the Grayscale Bitcoin Trust (GBTC) has seen daily outflows, causing a decrease in its market share. In total, GBTC has shed $11.1 billion over the past 13 days.
Initially, Grayscale’s fund accounted for around 99.5% of the total assets under management (AUM) of the 10 U.S. spot Bitcoin ETFs on their first trading day. However, consistent daily outflows from GBTC, averaging $329 million per day last week, have impacted the ETF’s market share over time.
As spot Bitcoin ETFs continue to thrive, questions arise about the significance of measuring blockchain transactions per second (TPS) in the future.