The price of Bitcoin (BTC) witnessed a remarkable surge recently. It went above the crucial $63,000 mark after weeks of consolidation around the $55,000 to $57,000 range. Amid this bullish momentum on the crypto market, Bitcoin based ETFs have also seen a massive surge in inflows. As per SoSoValue, Bitcoin spot ETFs witnessed a total net inflow of $158 million on Sept. 19.
Ark Invest and 21Shares' ETF ARKB dominated the market with a massive single-day net inflow of around $81 million, while Fidelity ETF FBTC secured a single-day net inflow of approximately $49 million. On the other hand, Bitwiseâs ETF BITB saw a single-day net inflow of $10.36 million, followed by Grayscaleâs ETF BTC securing a single-day net inflow of $9.54 million.
BlackRock ETF slows down
However, it should be noted that BlackRockâs IBIT had a neutral day, as there were no inflows or outflows for the ETF. This is a surprising development as BlackRockâs Bitcoin ETF has been one of the most successful ETFs on the market. In fact, it still has the highest net inflows overall compared to the rest of the Bitcoin Spot ETFs.
As of Sept. 19, IBIT has a cumulative net inflow of $22.67 billion. Compared to it, Grayscaleâs GBTC has a cumulative net inflow of $14.02 billion, while Fidelityâs FBTC has a cumulative net inflow of $11.20 billion. These figures show that despite its stagnant performance recently, the BlackRock Bitcoin ETF remains the biggest ETF on the market today.
Meanwhile, the cumulative total net inflow of the ETF market is currently at $17.60 billion. The total net assets are currently at a whopping $57.82 billion, which is surprisingly 4.64% of the total Bitcoin market cap. This shows that these ETFs have started to overcome the market despite their recent launch.
