BlackRock’s IBIT continues to lead net inflows in spot bitcoin ETFs

Spot bitcoin exchange-traded funds in the U.S. recorded a total daily net inflow of $28.32 million on Wednesday. The funds continued to log their 12th consecutive day of inflows, marking the longest streak since the last week of February.

The inflows were led by BlackRock’s IBIT, which drew in $24.5 million worth of funds according to data from SoSoValue. Grayscale’s GBTC saw net outflows of $31 million. This widened the gap between IBIT and GBTC, after the former overtook the spot of the largest bitcoin ETF in terms of net assets under management on Tuesday

Fidelity’s FBTC, the third largest spot bitcoin ETF, followed IBIT with net inflows of $18 million. Bitwise’s ETF saw $11 million worth of net inflows, while funds from Ark Invest and 21Shares, Invesco and Galaxy Digital, and WisdomTree reported smaller inflows.

Combined, the 11 spot bitcoin ETFs saw total net inflows of over $2 billion in the past 12 days, bringing the cumulative total net inflows since January to $13.76 billion.

Meanwhile, the U.S. ETF issuers are gearing up for the launch of spot Ethereum ETFs, as the Securities and Exchange Commission approved the 19b-4 forms for such funds last week. Firms are still required to have their S-1 forms approved by the regulators for the spot ether funds to start trading.