Bitcoin ETFs reached $50.5 million in cumulative net inflows in the first year

Almost a year since Bitcoin cash exchange-traded funds (ETFs) launched in the United States in January, the funds have seen remarkable growth.

Inflows to the 12 funds have exceeded 500,000 BTC.

Local Bitcoin ETFs attract over 500,000 BTC

In an X post, Vetle Lunde, head of research at digital asset research firm K33, stated that spot bitcoin ETFs currently have 500,925 BTC in cumulative net inflows, worth more than $50.5 billion as of current price

Notably, BlackRock’s iShares Bitcoin Trust (IBIT) had previously achieved this milestone. The fund became the fastest ETF in history to surpass $50 billion in assets under management (AUM), a feat it accomplished in 228 days, beating the previous record of 1,329 days.

However, since Grayscale’s Bitcoin Trust had mostly recorded negative flows, the cumulative net inflows to the 12 local US bitcoin ETFs took longer to reach the 500,000 BTC milestone.

Lunde added: “US ETFs have absorbed more than 2.5% of the circulating supply since their launch in January.” According to data from CoinMarketCap, the circulating supply of bitcoin is currently 19.7 million BTC, with a supply cap of 21 million BTC.

Bitcoin ETFs extend entry streak amid rising price

Funds have been on an inflow streak for the past two weeks, with Wednesday marking the 10th straight day of inflows. Net inflows into spot bitcoin ETFs on Wednesday totaled $223 million, according to data from SoSo Value.

Fidelity’s FBTC led the inflows with $121.9 million in new investments. GBTC and ARKB recorded inflows of $52.27 and $20.13 respectively. BlackRock’s IBIT, however, maintained neutral flows.

According to the data, total net inflows to the 12 US BTC ETFs amounted to $34.58 billion. Growing institutional interest in bitcoin has contributed significantly to sustained inflows into spot bitcoin ETFs.

The latest entries coincided with BTC’s recent rally, which saw the major cryptocurrency trade above $100,000. BTC is trading at $100,879 at press time.

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