The total inflow into US Bitcoin ETFs has crossed $50 billion just 18 months after their launch in January 2024.
Top Contributors to Inflows
The BlackRock iShares Bitcoin Trust ETF (IBIT) leads the way with a net inflow of $53 billion, while the Fidelity Wise Origin Bitcoin Fund (FBTC) saw the second highest inflow of $12.29 billion. In contrast, the Grayscale Bitcoin Trust ETF (GBTC) recorded a net outflow of $23.34 billion.
Rise of Corporate Treasuries
High demand for Bitcoin is also seen from corporations. Japan's Metaplanet acquired Bitcoin worth $237 million, becoming the fifth-largest corporate holder of Bitcoin. Additionally, two European companies added Bitcoin to their treasuries with The Blockchain Group investing $12.5 million and the Smarter Web Company investing $24.3 million. Remixpoint, a Japanese company, raised $215 million to buy more Bitcoin.
Bitcoin Market Milestones
Bitcoin reached a new all-time high of $112,000, with short sellers liquidated for nearly $200 million. Over the past 24 hours, Ethereum's price surged by 6.6%, currently trading at $2,778.
Overall, the surge in interest towards Bitcoin ETFs, increased corporate investments, and new market records highlight the cryptocurrency's significance in modern financial systems.
