U.S. Bitcoin ETFs Continue to Attract Inflows as Blackrock’s IBIT Leads the Way
In a continued streak of positive gains, U.S. spot bitcoin exchange-traded funds (ETFs) collected $28.3 million in inflows on Wednesday. This marks the 12th consecutive day of positive inflows for U.S. bitcoin ETFs.
Leading the pack on May 29 was Blackrock’s Ishares bitcoin trust (IBIT), which gained $24.5 million. Following closely behind was Fidelity’s FBTC, accumulating approximately $18 million. In total, the funds recorded around $1.14 billion in trade volume during Wednesday’s sessions. According to official websites, Blackrock’s IBIT holdings update shows that the ETF now secures 289,035.25 BTC valued at $19.48 billion.
In contrast, Grayscale’s bitcoin trust (GBTC) experienced outflows of around $31 million on Wednesday. The May 29, 2024, update indicates that the fund holds 287,443.03 BTC worth $19.31 billion. After the inflows on Wednesday, Fidelity’s FBTC holds 162,303.38 BTC valued at $10.93 billion. Ark Invest and 21shares ARKB fund also saw inflows, with the ETF currently securing 48,624 BTC valued at $3.27 billion.
Bitwise’s BITB also experienced a modest increase, now holding 36,397.69 BTC valued at $2.45 billion. Among the top five spot bitcoin ETFs, the group commands a substantial cache of 823,803.35 BTC valued at over $56 billion. Combined, the top five hold 4.18% of the current circulating supply of 19,705,389.87 BTC. Of this 4.18%, Blackrock’s IBIT controls 1.46% of BTC’s current supply, while GBTC holds 1.45% of today’s circulating bitcoins.
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