Spot BTC ETFs in the US have recorded a whopping $17 billion in net inflows as of last week since their launch in January. The massive interest in these products depicts how institutional investors believe in the wealth multiplication abilities of BTC.
Out of the 11 spot BTC ETFs issued in the US, investors have made their favorite clear. BlackRock’s IBIT fund alone has been responsible for amassing $18.968 billion since day one. Fidelity’s FBTC fund trails behind, gathering impressive net inflows of $9.962 billion. Grayscale’s GBTC, known for recording outflows, has observed tremendous outflows of over $18 billion since its launch.
BlackRock’s dominance in the US spot BTC ETF scene is pushing it to integrate BTC into its mainstream portfolios. The clear interest has also convinced the firm to add more BTC into its reserve. It recently bought 4,004 BTC, taking its holdings above $20 billion.
As BlackRock takes shape as the leading BTC ETF issuer in the country, Monday’s net inflows into its IBIT fund showed how true that is. The fund registered net inflows of over half a billion dollars. Specifically, $523 million. It also acquired an equivalent amount of BTC from the market to meet the demand. Julian Fahrer, CEO of Hey Apollo, posted on X, “BlackRock buys 7759 BTC ($523m)!!”
That marks the seventh biggest day BlackRock’s IBIT has witnessed since its launch and the biggest day since March. With that, BlackRock’s IBIT has gone beyond its impressive net inflows registered last week to record about $22 billion as of July 22. That equates to about 33,000 BTC.
BTC is as hot as it can get now, despite added pressures by events like Mt. Gox repayments continuing and creditors wanting to sell their reclaimed assets. As Trump will attend the Bitcoin Conference in Nashville on July 25 to address the crypto community, many believe he will promise to make BTC a strategic reserve asset. That level of endorsement is expected to kick BTC off in an upward trajectory characterized best as a frenzy.
