BlackRock’s IBIT spot Bitcoin exchange-traded fund crossed 250,000 BTC ($17.7 billion) in assets under management on Wednesday, just 11 weeks after trading began on Jan. 11.
BlackRock’s Bitcoin ETF had already accumulated 245,951 BTC as of Tuesday, according to its latest fund disclosures. IBIT’s $323.8 million (4,702 BTC) worth of net inflows yesterday, per BitMEX Research data, were enough to tip it over the milestone.
Speaking to Fox Business’ Charlie Gasparino and Liz Claman on Wednesday, BlackRock CEO Larry Fink said, “IBIT is the fastest-growing ETF in the history of ETFs,” adding that he was surprised how much bitcoin had gone up.
Fidelity’s FBTC crosses $10 billion in AUM
Meanwhile, Fidelity’s FBTC crossed the $10 billion assets under management threshold yesterday — equivalent to more than 143,000 BTC, according to The Block’s data dashboard.
FBTC becomes the second spot Bitcoin ETF to do so after BlackRock’s IBIT first reached the $10 billion AUM mark on March 1, despite generating just $1.5 million worth of net inflows on Wednesday.
In comparison, assets held by Grayscale’s converted GBTC fund have fallen by 45% from around 619,000 BTC to around 340,000 BTC in the same period.
Ark Invest 21Shares’ ARKB has best day as spot Bitcoin ETF inflow rebound continues
Net inflows into the spot Bitcoin ETFs continued their rebound on Wednesday, adding $243.4 million after witnessing net outflows totaling around $890 million last week, per BitMEX Research.
BlackRock’s IBIT led yesterday’s inflows, registering $323.8 million, while Ark Invest 21Shares’ ARKB witnessed its biggest daily inflows to date, adding $200.7 million.
Grayscale’s higher-fee GBTC fund continued its substantial outflow streak, shedding a further $299.8 million to reach $14.7 billion in total outflows.
Meanwhile, the remaining spot Bitcoin ETFs generated inflows of less than $6 million each. Total net inflows now stand at $11.9 billion.
Volume for the U.S. spot bitcoin ETFs also remained robust on Wednesday, generating $3.82 billion in trading, 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.
Cumulative trading volume for all spot bitcoin ETFs now stands at $178 billion.
Bitcoin is currently trading at $70,554 — up 1% over the last 24 hours and 5% over the past week, according to The Block’s price page.
BTC/USD price chart. Image: The Block/TradingView.
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