The U.S. spot Bitcoin exchange-traded funds (ETFs) recorded the second-largest single-day inflow in history on Monday, coinciding with Bitcoin reaching a new record high.
On that day, the 11 U.S. spot Bitcoin ETFs collectively saw an inflow of $1.18 billion, second only to the $1.37 billion inflow the ETFs received on November 7, 2024, after Donald Trump won the election to become the next U.S. president.
According to CoinGlass data, the ETF's harvest day coincided with BTC hitting a historic high of over $126,000, bringing the total inflow for October to $3.47 billion over just four trading days.
Meanwhile, Bloomberg ETF analyst James Seyffart stated on X on Monday that Bitcoin ETFs have accumulated approximately $60 billion in inflows since their launch.
The immense demand for Bitcoin ETPs highlights the significant influence of institutional investors in this bull market, with reports indicating that retail investors are still on the sidelines.
BlackRock's iShares Bitcoin Trust (IBIT) captured the largest share of inflows, with as much as $967 million entering the product on Monday. This ETF has seen $2.6 billion in inflows since the beginning of October.
Fidelity's Wise Origin Bitcoin Fund (FBTC) recorded $112 million in inflows, Bitwise Bitcoin ETF (BITB) received $60 million, and Grayscale Bitcoin Trust (BTC) saw $30 million. Funds from Invesco, WisdomTree, and Franklin also had minor inflows.
Nate Geraci, president of Nova Dius, noted on Tuesday that BlackRock's Bitcoin ETF is on the verge of surpassing $100 billion in assets under management.
According to the official website, IBIT's Bitcoin and cash assets under management are close to $98.5 billion, holding 783,767 BTC.
Geraci stated that the world's largest ETF, the Vanguard S&P 500 ETF, took over 2,000 days to reach this milestone, while IBIT is set to achieve this goal in less than 450 days. He added that among over 4,500 traded ETFs, only 18 manage assets exceeding $100 billion.
Related: IBIT becomes BlackRock's most profitable ETF, just "one step away" from $100 billion.
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