BlackRock’s spot bitcoin ETF draws in over $1 billion so far this week

Spot bitcoin exchange-traded funds in the U.S. reported total daily net inflows of $470.48 million on Thursday, extending the positive flows that continued this week. The 12 funds have accumulated over $1.85 billion in net inflows so far this week.

“Favorable macroeconomic conditions are [playing] a crucial role; central banks around the globe are lowering interest rates, driving investors toward alternative assets,” said Rachael Lucas, crypto analyst of BTC Markets.

Thursday’s inflows were led by BlackRock’s IBIT, the largest spot bitcoin ETF by net assets, which recorded $309 million in inflows yesterday, according to data from SoSoValue. The bitcoin fund has seen net inflows of over $1.07 billion this week, potentially marking its largest weekly inflow since mid-March.

Among other spot ETFs, Ark and 21Shares’ ARKB had over $100 million in net inflows on Thursday. Grayscale’s GBTC saw $45.70 million in net inflows, while Fidelity’s FBTC reported inflows worth $11.69 million. The bitcoin ETF from Franklin Templeton also saw net inflows of $3.88 million yesterday. The seven other spot bitcoin ETFs recorded no flows.

The 12 bitcoin ETFs reported around $1.47 billion in total trading volume on Thursday, down from $1.58 billion the day before. Their cumulative total net inflows since the January launch stood at $20.66 billion.

On Wednesday, their cumulative inflows crossed the $20 billion mark, which Bloomberg’s senior ETF analyst Eric Balchunas described as the “most difficult metric” to grow in the ETF world. “For context, it took gold ETFs about five years to reach [the] same number,” Balchunas wrote on X.