The BlackRock iShares Bitcoin Trust (IBIT) ETF saw its highest daily inflows on March 5, reaching $788 million, surpassing its previous record of $612.1 million on Feb. 28.
The Bitcoin ecosystem has recently achieved two significant milestones: a new all-time high (ATH) of $69,324 on March 5, and a surge in investments in spot Bitcoin ETFs in the United States.
Data from Farside, an investment management company, showed that total inflows reached $648.3 million on the day Bitcoin hit its ATH.
Out of the 10 approved ETFs, only the Grayscale Bitcoin Trust (GBTC) and the Invesco Galaxy Bitcoin ETF experienced net outflows on March 5, with $332.5 million and $14.2 million, respectively.
The day’s net inflows were mainly driven by IBIT and supported by the Fidelity Wise Origin Bitcoin Fund ($125.6 million), the Bitwise Bitcoin ETF ($3.7 million), the ARK 21Shares Bitcoin ETF ($63.7 million), the Franklin Bitcoin ETF (FBTC) ($3.6 million), the VanEck Bitcoin Trust ETF ($3.5 million), and the WisdomTree Bitcoin ETF ($6.6 million).
On the other hand, the Valkyrie Bitcoin ETF did not see any inflows. Overall, the Bitcoin ETF ecosystem has attracted $8.5 billion in inflows to date, even after considering GBTC’s consistent outflows, which now total $9.6 billion.
Historical data confirms that IBIT and FBTC bring in the largest inflows to the ecosystem and have never reported net outflows. As of March 5, IBIT and FBTC have contributed a total of $9.16 billion and $5.3 billion, respectively.
In contrast, GBTC’s Bitcoin holdings have decreased by 33%, from 620,000 BTC at the time of its ETF conversion to approximately 420,680 BTC at present.
Supported by significant investments and a continuous bullish trend, the combined trading volume of U.S.-based spot Bitcoin ETFs has exceeded $10 billion to date.
“These are impressive numbers for ETFs that are less than two months old,” said Eric Balchunas, an ETF analyst at Bloomberg, in a post on March 5.
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