BlackRock's IBIT leads with record $520 million inflow, 3rd best day since launch | CryptoSlate

Quick Take

The Bitcoin ETFs are experiencing an impressive surge, with BitMEX data revealing the third-largest day of net inflows. The total net inflows hit around $577 million, which is the equivalent of roughly 10,168 $BTC.

Following the fourth largest day of inflows documented by CryptoSlate the previous day, it’s evident the momentum is increasing, marking roughly a $55 million increase from the preceding day, according to BitMEX.

BitMEX data shows that BlackRock’s IBIT ETF recorded an unprecedented single-day inflow of $520 million, propelling it to a total of $6.5 billion in net inflows. Fidelity’s FBTC registered a sturdy $126 million in net inflows, thereby bringing its total to $4.5 billion.

BitMEX reports that the notable inflow into FBTC mirrored the outflow from GBTC, which experienced a sharp increase after three consecutive days of minor outflows, culminating in a total outflow of $7.6 billion.

The combined net inflow for the remaining seven ETFs reached an impressive roughly $56 million, according to BitMEX. Given that there are ten spot ETF products available, such a broad distribution of inflows is a positive indication of market forces.

Consequently, the overall net inflows stand at a staggering $6.7 billion, the equivalent of roughly 134,000 $BTC, according to BitMEX.