New record: Bitcoin ETFs hit $1B in daily inflow

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The United States spot Bitcoin (BTC) exchange-traded funds (ETFs) achieved a new milestone after attracting more than $1 billion in net inflows for the first time on March 12.

Investments into spot Bitcoin ETFs continue to soar as daily inflows breached $11.1 billion over the last 13 days. On March 12, Bitcoin ETFs saw its biggest ever daily inflow of $1.045 billion, chiefly contributed to by BlackRock’s iShares Bitcoin ETF (IBIT).

Bitcoin spot ETF cumulative flows (in million dollars). Source: farside.co.uk

IBIT accounted for $849 million of inflow, while others, such as ARK 21Shares Bitcoin ETF (ARK), VanEck Bitcoin Trust ETF (HOLD) and Fidelity Advantage Bitcoin ETF (FBTC) recorded a comparatively lower contribution of $93 million, $82.9 million and $51.6 million respectively.

Spot Bitcoin ETF daily inflows and outflows. Source: farside.co.uk

As a direct result of the massive inflows into the Bitcoin ETFs and a supporting bull run, the daily inflows of capital being stored by the Bitcoin network just hit $2 billion per day, marking yet another milestone for the ecosystem.

Daily inflow of capital stored on Bitcoin network exceeds $2 billion. Source: Willy Woo on X.

In addition, the market price of Bitcoin reached a new high of $73,000 at the time of writing.

Out of the approved Bitcoin ETFs in the U.S., Franklin Bitcoin ETF (EZBC) recorded the lowest inflows at $148 million to date, while IBIT holds the lion’s share at $11.4 billion. On the other end of the spectrum, the Grayscale Bitcoin Trust (GBTC) brings down the net inflow on a daily basis. In total, GBTC shed $11.1 billion over the last 13 days.

Related: Bitcoin surges after crypto ETPs notch record $2.7B weekly inflows

Grayscale’s GBTC fell below 50% market share for the first time since spot Bitcoin ETFs began trading in the United States on Jan. 11.

Grayscale’s GBTC fund accounts for less than 50% of the total Bitcoin ETF AUM. Source: Hildobby on Dune Analytics

On the first trading day of the 10 U.S. spot Bitcoin ETFs, Grayscale’s fund accounted for around 99.5% of their total AUM. However, consistent daily outflows from the GBTC — which averaged $329 million per day last week — have eaten away at the ETF’s market share over time.

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