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Record Growth in US Bitcoin ETFs: 950,000 BTC Under Management

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2 hours ago

US Bitcoin ETFs have reached record levels driven by significant capital inflows, while the US remains a key player in the global cryptocurrency market.

Surge in US Bitcoin ETFs

Over the past three days, spot Bitcoin ETFs have seen over $1 billion in inflows. Leading the way is BlackRock IBIT, with $761.7 million in inflows, accounting for around 70% of all ETF inflows. Other ETFs like Fidelity FBTC, Bitwise BITB, and Ark Invest ARKB also recorded significant volumes at $289.1 million, $113.8 million, and $96 million, respectively. WisdomTree BTCW and Grayscale products reported zero flows during this period. ETF Institute founder Nate Geraci noted that only 8 out of over 560 ETFs launched in 2024 garnered more than $1 billion in a year.

Only 8 out of 560+ ETFs launched in 2024 have taken in more than $1 billion for the year.Nate Geraci

US Global Dominance in Bitcoin ETPs

The US continues to dominate the Bitcoin ETP market, nearing a million BTC in management. Globally, Bitcoin products have exceeded 1.2 million BTC. A Chainanalysis report confirmed that North America accounts for 22.5% of all crypto activity, with significant participation from institutional investors. This underscores the growing interest in Bitcoin from traditional financial institutions.

The arrival of traditional financial institutions through ETFs made a significant impact and is likely to drive adoption at other levels.

Institutional Interest and BTC Price

Recent inflows into Bitcoin ETFs have contributed to a price increase. The flagship asset has risen by 10% in the last seven days, briefly reaching $68,000. Concerns about Middle East tensions and potential interest rate cuts could also influence Bitcoin's growth, as former Bitmex CEO Arthur Hayes notes.

Open interest has grown by a massive 32,440 BTC since October 10 – and active market participants drive this growth, seeing a weekly growth in exposure of 40%.Vetle Lunde

Record inflows into Bitcoin ETFs highlight the growing institutional interest in cryptocurrencies both in the US and globally, potentially driving further price growth and Bitcoin's prominence as an investment asset.

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