BlackRock’s iShares Bitcoin Trust (IBIT) has amassed over $18 billion in Bitcoin (BTC), with the ETF continuing to attract inflows.
Farside Investors’ data indicates that spot BTC ETFs experienced $216.4 million in inflows on Tuesday, marking the third consecutive day of inflows, bringing the total to $15.2 billion.
The IBIT ETF received $121 million in inflows on July 9, propelling its market cap beyond $18.04 billion. Notably, BlackRock’s spot BTC ETF had a single day of net outflows on May 1, amounting to $36.9 million. Conversely, the Grayscale Bitcoin Trust (GBTC) saw $37.5 million in net outflows. However, GBTC reported $25.1 million in inflows on July 8, coinciding with the onset of bullish market sentiment for the week. Since its inception in the U.S., GBTC has experienced over $18.6 billion in net outflows.
The Bitwise Bitcoin ETF (BITB) also faced a decline, with outflows of $4.7 million.
Other funds contributing to the inflow include Fidelity Wise Origin Bitcoin Fund (FBTC), ARK 21Shares Bitcoin ETF (ARKB), and VanEck Bitcoin Trust (HODL), with net inflows of $91 million, $43.3 million, and $3.3 million, respectively.
Although the inflows on the previous day were less than Monday’s $295 million, they sustained a positive trend in the cryptocurrency market. As a result, Bitcoin hit a weekly peak of $59,400. Currently, the leading cryptocurrency is trading at $59,200.