BlackRock Bitcoin ETF Amasses 5,805 BTC, Maintaining Its Dominance
BlackRock spot Bitcoin ETF, IBIT, accumulated about 5,805 BTC tokens within 24 hours, with its inflows exceeding $393 million.Following BlackRock's IBIT's impressive performance, the US spot Bitcoin ETFs have hit net inflows of over 20 billion since their launch.
Meanwhile, Quantity Funds launched its STKD Bitcoin and Gold ETF, BTGD, due to the increasing demand for these assets.
BlackRock Bitcoin ETF Amasses 5,805 BTC Tokens to Hit $393.4 Million in Net InflowsBlackRock spot Bitcoin ETF IBIT has recorded a new milestone: It accumulated 5,805 BTC, with about $393.4 million in net inflows. This feat demonstrates IBIT's dominance in the ETF market.
IBIT now leads the market by 50% in value to its immediate follow-up fund, Fidelity's FBTC, which has $10.24 billion in net inflows.
IBIT has amassed over $22.49 billion in net inflows since its debut, according to data from Farside Investors.
Also, Wednesday proved to be a fruitful day as most Bitcoin ETFs posted impressive positive flows. The spot BTC ETFs scooped about $458.5 million in net inflows,and no ETF posted negative net flows for the day.
Fidelity's FBTC closed the day with net inflows of $14.8 million, while Bitwise's BITB recorded $12.9 million in net inflows. ARK Invest and 21Shares' ARKB and Franklin's EXBC amassed about $11.5 million and $11.8 million in net inflows, respectively.
Meanwhile, Invesco Galaxy's BTCO, VanEck's HODL, and Valkyrie's BRRR recorded $6.8 million, $5.5 million, and $1.9 million in net inflows, respectively. However, the remaining three ETFs, including Grayscale's GBTC, saw zero daily net flows.
On Wednesday, the daily trading volume of all the spot Bitcoin ETFs amounted to $1.58 billion, a 48.1% decrease from the previous day's trade volume of $3.05 billion.
Following the impressive trading day on Wednesday, the spot BTC ETFs have net inflows of $20.19 billion since their launch.
Growing Demand For Bitcoin And Gold ETFThe ETF market has recorded increasing demand for Bitcoin and Gold ETFs. This trend prompted the emergence of the STKD Bitcoin & Gold ETF, a fund that offers exposure to both.
Quantity Funds partnered with Return Stacked to launch STKD Bitcoin & Gold ETF. According to the announcement, STKD offers protection against inflation and currency debasement.
Further, Quantity Funds revealed that its Bitcoin & Gold ETF will trade with the ticker BTGD. The ETF will expose investors to BTC and Gold via BTC futures, gold futures, and their related ETFs.
Moreover, retail investors will gain 100% exposure to the ETF's joint Bitcoin and Gold strategy for each $1 invested.
The firm stated: The bitcoin strategy seeks to capture the price return of bitcoin, investing in BTC futures and ETPs, while the gold strategy similarly seeks to capture the price return of gold via investments in gold futures and gold ETPs."
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