Bitcoin ETFs Record $597.5M Influx, Marking 11 Consecutive Days of Inflow

As Bitcoin continues garnering more price gains and adoption from institutional investors, more investors are becoming bullish on the apex crypto asset and other products tied to its value.

The United States spot Bitcoin exchange-traded fund (ETF) market is one way many American investors are joining the Bitcoin ecosystem. According to recent financial research platform SoSoValue data, the U.S. spot Bitcoin ETF market has attracted $598 million in inflows. This makes it 11 days since the BTC-backed fund saw consecutive inflows.

Bitcoin ETFs Welcome Nearly $600M

IBIT, the flagship ETF managed by asset management firm BlackRock, led the inflow streak with $431.60 million. Presently, the company holds over $53 billion from its Bitcoin ETF business alone. These holdings will continue to move with BTC’s volatile price movement.

Other Bitcoin ETFs that saw inflows were the Grayscale Bitcoin Mini Trust (BTC), Bitwise’s BITB, Fidelity’s FBTC, ARK and 21Shares’ ARKB, and WisdomTree’s BTCW, which were $110.76 million, $61.45 million, $30.54 million, $8.97 million, and $2.65 million, respectively.

While the remaining Bitcoin ETFs recorded no flows, Grayscale’s GBTC netted an outflow of $48.4 million, valuing its remaining BTC stash at $21.11 billion.

Interestingly, the current record of Bitcoin ETFs marks the 11th day of steady inflow, which started on November 27th. The financial product has not recorded this many consecutive daily inflows since July 22nd. The sustained inflows underscore the increasing demand for exposure to Bitcoin through regulated investment products.

More BTC Adoption

Bitcoin ETFs and major companies buying the digital asset have fueled its growth. For instance, MicroStrategy has been acquiring Bitcoin for over four years. Since 2020, the firm has continued to expand its holdings, positioning itself as one of the largest institutional holders of the digital asset. Presently, MicroStrategy owns over 423,650 BTC, making it the largest corporate Bitcoin holder. These companies’ consistent purchases, which help boost demand, can propel the asset’s price.

Today, BTC sells for $100,000, representing a 1.41% surge within the past week.