Spot bitcoin ETFs hit record $673 million daily net inflow, led by BlackRock’s IBIT

U.S. spot bitcoin exchange-traded funds generated a record net inflow of $673.4 million on Wednesday, surpassing the previous high of $655.2 million set on their Jan. 11 launch day.

BlackRock’s IBIT spot bitcoin ETF dominated the flows, adding $612.1 million, according to data from BitMEX Research, marking the highest inflow so far. Fidelity’s FBTC was in second place with $245.2 million and Ark Invest 21Shares’ ARKB was third with $23.8 million.

Despite the record net inflow, there were outflows of $216.4 million from Grayscale’s higher fee GBTC fund — the largest since Jan. 30 — and $3.4 million from VanEck’s HODL product. The remaining funds generated less than $10 million worth of inflows each on Wednesday.

Yesterday’s figures bring total net inflows for all the spot bitcoin ETFs combined to nearly $7.4 billion, per BitMEX Research.

“We have a new record inflow for the Cointucky Derby bitcoin ETFs! IBIT took in a record $612 million on its own. On a net basis the group took in $673 million,” Bloomberg ETF analyst James Seyffart posted on X. “This beats the day one record of $655 million. Also, IBIT crossed $9 billion in assets.”

BlackRock surpasses 150,000 BTC under management, Fidelity exceeds 100,000 BTC

Following yesterday’s record inflows, BlackRock’s IBIT fund has reached more than 150,000 BTC +6.38% ($9.4 billion) under management, while Fidelity’s FBTC has surpassed 100,000 BTC ($6.3 billion) in assets, according to K33 Research analyst Vetle Lunde.

BTC under management. Image: K33 Research .

The nine newborn spot bitcoin ETFs — excluding Grayscale’s converted GBTC fund — now hold more than 330,000 BTC in assets under management — adding around 30,000 BTC ($1.9 billion) in two days.

U.S. spot bitcoin ETFs collectively hold 768,280 BTC ($4.8 billion) combined, with a net inflow of 149,080 BTC ($937 million) since launch. That’s despite assets held by Grayscale’s converted GBTC fund dropping by 29% to just under 441,000 BTC ($28 billion) from around 619,000 BTC ($39 billion) since Jan. 11, according to CoinGlass data .

BTC held by all U.S. spot bitcoin ETFs. Image: K33 Research .

Global net inflows for all bitcoin exchange-traded products came in at 6,038 BTC ($380 million) on Wednesday, according to Lunde. “Huge outflows from Volatility Shares and a sizable outflow from Purpose offset parts of the impact of BlackRock's enormous $612m inflow,” he said.

Bitcoin ETPs daily flow by region. Image: K33 Research .

Global bitcoin ETPs are nearing 1 million BTC under management, currently holding 980,000 BTC ($61.6 billion), having added 133,300 BTC ($8.4 billion) so far this year, Lunde added.

Bitcoin under management by investment vehicles. Image: K33 Research .

Record daily trading volume for spot bitcoin ETFs

As The Block previously reported , the U.S. spot bitcoin ETFs also generated record trading volumes Wednesday as bitcoin’s price soared to a peak of $64,000, before correcting.

The ETFs generated a combined trading volume of $7.61 billion on Wednesday, according to The Block’s data dashboard — smashing the previous record of $4.54 billion on their first day of trading, Jan. 11.

BlackRock’s IBIT again led the market, registering $3.32 billion in trading volume, more than doubling its previous record set just the day before. Grayscale’s GBTC generated $1.84 billion in volume and Fidelity’s FBTC $1.43 billion.

“The total number of trades was doubled too, over half a million individual trades by them,” Bloomberg ETF analyst Eric Balchunas said of the nine new spot bitcoin ETFs. “IBIT alone > QQQ [the Investco ETF tracking the Nasdaq-100 Index].”

“Bitwise, Invesco, ARK's bitcoin ETFs have all broken their personal volume records today too,” Balchunas added. “I asked around to some market makers and most say this volume is largely a function of natural demand vs algo/arb type volume. To quote Buffalo Springfield ‘there's something happening here.’"

The cumulative trading volume for the U.S. spot bitcoin ETFs now stands at $65.64 billion.

Bitcoin is currently trading at $62,486, according to The Block's price page . The largest cryptocurrency by market cap gained a further 5% over the last 24 hours. Bitcoin is now up by more than 22% over the past week and 48% year-to-date — just 10% shy of its prior all-time high of around $69,000 set in November 2021.

BTC/USD price chart. Image: The Block/TradingView .