BlackRock’s IBIT spot Bitcoin exchange-traded fund surpassed 250,000. BTC
+0.84%
Assets under management increased by ($17.7 billion) on Wednesday, just 11 weeks after trading began on January 11.
BlackRock’s Bitcoin ETF has already amassed 245,951 BTC as of Tuesday, according to a recent fund disclosure. IBIT’s $323.8 million (4,702 BTC) worth of net inflows yesterday were enough to surpass the milestone, according to BitMEX Research data.
“IBIT is the fastest-growing ETF in ETF history,” BlackRock CEO Larry Fink told Fox Business’s Charlie Gasparino and Liz Claman on Wednesday. He added that he was surprised by how much Bitcoin had risen.
Fidelity’s FBTC AUM surpasses $10 billion.
Meanwhile, Fidelity’s FBTC surpassed $10 billion in assets under management yesterday. This equates to over 143,000 BTC, according to The Block’s data dashboard.
FBTC became the second Bitcoin ETF to reach $10 billion in AUM after BlackRock’s IBIT became the first on March 1, despite net inflows of just $1.5 million on Wednesday.
By comparison, assets held by Grayscale’s convertible GBTC fund decreased by 45% from approximately 619,000 BTC to approximately 340,000 BTC over the same period.
Ark Invest 21Shares’ ARKB had its best day yet as the rebound in spot Bitcoin ETF inflows continued.
Bitcoin ETFs continued their rebound on Wednesday, adding $243.4 million after witnessing total net outflows of $890 million last week, according to BitMEX Research.
BlackRock’s IBIT led yesterday’s inflows, recording $323.8 million, while Ark Invest 21Shares’ ARKB added $207 million, witnessing its largest single-day inflow to date.
Grayscale’s high-cost GBTC fund continued to see significant outflows, shedding an additional $299.8 million, bringing total outflows to $14.7 billion.
Meanwhile, the remaining spot Bitcoin ETFs each generated inflows of less than $6 million. Total net inflows now amount to $11.9 billion.
Trading volume for U.S. spot Bitcoin ETFs also remained strong on Wednesday, recording $3.82 billion in transactions, again led by BlackRock’s IBIT, which registered $1.82 billion. Grayscale’s GBTC and Fidelity’s FBTC generated $987 million and $590 million, respectively, according to The Block’s data dashboard.
Currently, the cumulative volume of all spot Bitcoin ETFs stands at $178 billion.
According to The Block’s price page, Bitcoin is currently trading at $70,554. This represents an increase of 1% over the last 24 hours and a 5% increase over the past week.
BTC/USD price chart. Image: Block/TradingView.
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