Spot bitcoin ETFs began trading on Jan. 11, 2024, when 11 funds were approved from Bitwise, Grayscale, Hashdex, BlackRock, Valkyrie, BZX, Invesco, VanEck, WisdomTree, Fidelity and Franklin.
Spot bitcoin ETF fund flows sine January 11. Image: CoinShares.
Tuesday’s CoinShares report added that net flow into U.S. spot bitcoin ETF products have now exceeded that of bitcoin supply issuance in their first month of activity.
“Now less than three months away, bitcoin’s quadrennial halving will decrease its annual inflation rate to 1%. If sustained, the current daily average net flow into U.S. ETFs would be 4.6 times bitcoin’s average daily issuance after the halving,” the report added.
BlackRock’s IBIT fund takes highest daily inflow
According to SoSo Value data, the spot bitcoin ETF with the highest single-day net inflow was BlackRock’s IBIT fund, with a single-day net inflow of $493 million reported on Tuesday. This accounted for 70% of the total daily inflow into all funds.
Grayscale’s converted GBTC fund experienced a net outflow of $72.83 million on Tuesday. The other ETFs experienced a total net inflow of $704 million on the same day.
Spot bitcoin ETF flows from Tuesday, February 13. Image: SoSoValue.
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