U.S. Bitcoin ETFs surged as BlackRock’s IBIT added $393.4 million in daily inflows, reaching $22.5 billion and surpassing competitors like Fidelity’s FBTC.
This week, there has been a significant increase in demand for Bitcoin exchange-traded funds (ETFs) in the United States. BlackRock’s IBIT has reached a significant milestone, with total inflows topping $22.5 billion since its launch. With inflows reaching a staggering $393.4 million yesterday, the BlackRock Bitcoin Exchange-Traded Fund (ETF) was able to acquire a total of 5,805 bitcoins on Wednesday.
BlackRock Bitcoin ETF (IBIT) Leads the Pack
On Wednesday, the net inflows in Bitcoin exchange-traded funds (ETFs) in the United States reached an astounding $458 million, with BlackRock (IBIT) taking an overwhelming lead over its competitors. The BlackRock Bitcoin ETF individually contributed $393 million to the total inflows.
According to the data provided by Farside Investors, the cumulative inflows of IBIT have already reached approximately $22.461 billion since the company’s start. Compared to its immediate competitor, Fidelity’s FBTC, which recorded inflows of $10.274 billion, this figure is more than twice as high.
As an additional point of interest, the net inflows of all nine US Bitcoin exchange-traded funds have surpassed $20 billion for the very first time since their establishment. US Bitcoin ETFs have started the week strongly, amassing approximately $1.4 billion in just the first three days.
The weekly inflows have the potential to reach $2 billion, given that there are two more days left to go and the swelling chorus of support for Donald Trump’s potential presidency. Spot Bitcoin exchange-traded funds (ETFs) offer investors a regulated framework in which they can seek exposure to Bitcoin.
With MicroStrategy facing cries of overvaluation, investors’ attention has switched to ETFs as a better proxy bet for the world’s largest digital asset. On Wednesday, October 16, Quantity Funds introduced a new exchange-traded fund that offers investors exposure to both gold and bitcoin.
The company released a statement, stating that the fund, named STKD Bitcoin & Gold ETF, aims to protect investors from inflation and “currency debasement”. When released, Quantity Funds’ Bitcoin and Gold Exchange-Traded Fund (ETF) will trade under the ticker symbol BTGD. It will provide dual exposure to both bitcoin and gold through a mix of bitcoin futures, gold futures, and associated ETFs.
For every $1 deposited, retail investors have 100% exposure to the ETF’s combined bitcoin and gold strategy. In a statement regarding the new development, Quantity Funds made the following observation:
BTGD is the first exchange-traded fund (ETF) to offer a “stacked approach,” which means that it offers more than one dollar of exposure for every one dollar invested in both bitcoin and gold. The fund achieves this technique by using futures and exchange-traded funds (ETFs) instead of direct investments in cryptocurrencies or actual gold.
