BlackRock’s iShares Bitcoin Trust (IBIT) has accumulated over $18 billion in Bitcoin (BTC) as inflows into ETFs continue. According to Farside Investors, spot BTC ETFs received $216.4 million in inflows on Tuesday, marking the third consecutive day of positive inflows and bringing the total to $15.2 billion.
On July 9, IBIT ETF experienced $121 million in inflows, pushing its total market cap to $18.04 billion. Interestingly, BlackRock’s spot BTC ETF saw net outflows only once on May 1, amounting to $36.9 million.
In contrast, Grayscale Bitcoin Trust (GBTC) reported $37.5 million in net outflows. However, the trust saw $25.1 million in inflows on July 8, reflecting a bullish start to the week across the market.
Since its launch in the U.S., the GBTC ETF has recorded over $18.6 billion in net outflows. The Bitwise Bitcoin ETF (BITB) also saw outflows totaling $4.7 million.
Conversely, the Fidelity Wise Origin Bitcoin Fund (FBTC), ARK 21Shares Bitcoin ETF (ARKB), and VanEck Bitcoin Trust (HODL) received net inflows of $91 million, $43.3 million, and $3.3 million, respectively.
Although Tuesday’s inflows were lower than Monday’s $295 million, they contributed to maintaining bullish momentum in the crypto ecosystem. As a result, Bitcoin reached an intraday high of $59,400, marking its highest level in a week. The flagship cryptocurrency is currently trading at $59,200.
The post BlackRock’s IBIT ETF Holds $18 Billion in BTC Amid Inflows appeared first on Baffic.
