BlackRock leads as Bitcoin ETFs hit record $673 million inflow in a single day

Quick Take

Bitcoin Exchange-Traded Funds (ETFs) are witnessing a remarkable surge, setting a new record with the biggest day of inflows to date. Data from BitMEX shows a $673 million inflow in a single day, the equivalent of 11,122 Bitcoin.

The spike in inflows signifies an increased interest in Bitcoin-backed financial products. BlackRock’s IBIT saw its largest one-day inflow of $612 million, surpassing its previous record of $520 million from just a day earlier. The ETF IBIT now boasts $7.2 billion in total net flows, according to BitMEX.

Similarly, Fidelity’s FBTC reported a significant $245 million inflow, elevating their total net flows to $4.7 billion. Despite these positive figures, GBTC noted an accelerated outflow of $216 million, pushing their total outflows to an alarming $7.8 billion.

BitMEX reports Ark Invest ARKB also achieved a new milestone with a cumulative $1.6 billion inflows, further augmented by an additional inflow of $24 million.

Collectively, the net flows for all Bitcoin ETFs stand at $7.4 billion, equivalent to approximately 145,000 Bitcoin, according to BitMEX.