Bitcoin ETFs growth is heading higher regardless of the price of Bitcoin, as pointed out by Bloomberg ETF analyst Eric Balchunas.
BlackRock’s Bitcoin ETF garnered $526.7 million in net inflows on Monday, surpassing the Nasdaq ETF in terms of inflows this year, with its market capitalization hitting over $22 billion.
BlackRock’s iShares Bitcoin Trust (IBIT) experienced $526.7 million in net inflows, which we attribute to investors’ growing desire to spot Bitcoin funds. Out of the ten spot Bitcoin ETFs, only BITB did not record an increase for the 12th day in a row, and the group attracted almost $534 million in inflows, according to SoSoValue.
The Fidelity Wise Origin Bitcoin Fund (FBTC) ranked second with $23.7 million in inflows, while the Invesco Galaxy Bitcoin ETF (BTCO) came in second with $13.7 million.
The Franklin Bitcoin ETF (EZBC) captured $7. However, spot Bitcoin ETFs from ARK 21Shares, Valkyrie, Grayscale, Hashdex, and WisdomTree experienced zero inflows of $9 million.
As opposed to other ETFs, the VanEck Bitcoin ETF (HODL) faced negative returns, with investors redeeming their funds for almost $38.4 million.
Bitcoin ETFs Growth: IBIT Market Cap Over $22B, US Demand Soars
After Monday’s gains, the market capitalization of IBIT surpassed $22 billion. Quinten François, a crypto analyst, observes that IBIT has high inflows and is ranked fourth among over 3000 ETFs in the US and ahead of Nasdaq ETF.
Bloomberg ETF analyst Eric Balchunas estimates that US spot Bitcoin ETFs have attracted more than $2 billion in the last two weeks and $17 billion year-to-date.
As Bloomberg’s ETF analyst Eric Balchunas pointed out, net asset flows into Bitcoin ETFs have been unchanged despite Bitcoin’s volatility. While the inflows may decrease if the demand reduces, they are on the rise currently, and there has been considerable interest in investing in the Bitcoin ETFs.
