Bitcoin spot ETF daily trading volume hits new high! Net capital inflow exceeded US$7.7 billion

Bitcoin broke through $69,000 last night, setting a new all-time high. At this important moment, data released by Bloomberg analyst Eric Balchunas showed that the single-day trading volume of 10 U.S. Bitcoin spot ETFs reached $10 billion on Tuesday, setting a historical record.

Among them, BlackRock’s IBIT ($3.703 billion), Fidelity’s FBTC ($2.028 billion), Bitwise’s BITB ($294 million) and ARK/21Shares’ ARKB ($484 million) have also entered the market. Set a new high in single-day trading volume.

Daily fund inflows and outflows of each Bitcoin spot ETF

In view of the fact that when Bitcoin hit a new high, the Bitcoin spot ETF trading volume set a new record, Eric Balchunas said that the fluctuations of ETFs are closely related to trading volume, so they are not completely surprising, and these numbers are simply a fantasy for an ETF that was born less than two months ago.

The cumulative net inflow of the 10 Bitcoin spot ETFs is US$7.78 billion

Since the Bitcoin spot ETF was approved for listing in January, according to SoSoValue data, as of the 5th, despite the grayscale GBTC The cumulative net outflow has reached US$9.6 billion, but the cumulative net inflow of these 10 Bitcoin spot ETFs has reached US$7.78 billion, and as of the 4th, the total asset size of these Bitcoin spot ETFs has reached US$52.45 billion.

The daily cumulative capital inflows and outflows of Bitcoin spot ETF

Will Bitcoin spot ETF surpass gold ETF?

Looking to the future, Eric Balchunas pointed out that the asset size of the 10 Bitcoin spot ETFs has exceeded US$50 billion. At the beginning, the asset size was less than US$30 billion. Of the current asset size, about US$8 billion from inflows and the rest from rising Bitcoin value.

Eric Balchunas predicts that if the growth of Bitcoin spot ETFs maintains this rate, adding $10 billion per month, Bitcoin spot ETFs will surpass the size of gold ETFs this summer. This may seem crazy, but if Bitcoin If the price meets the conditions, it is very likely to happen.

Demand for Bitcoin spot ETFs is expected to continue to increase in the future. BlackRock has submitted revised documents to the SEC on Monday, applying to include Bitcoin ETF exposure in its strategy of more than $36 billion. Income Opportunities Fund (BSIIX) portfolio.

This means that BSIIX may purchase Bitcoin ETPs issued by BlackRock subsidiaries, such as the Bitcoin spot ETF "iShares Bitcoin Trust (IBIT)" approved for listing by BlackRock subsidiary iShares in January. , as well as potentially purchasing other similarly recently approved Bitcoin spot ETFs.

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