**U.S. Spot Bitcoin ETFs Set Record Inflows of $673.4 Million**
U.S. spot bitcoin exchange-traded funds (ETFs) experienced a record net inflow of $673.4 million on Wednesday, surpassing the previous high of $655.2 million set on their January 11 launch day. The inflows were dominated by BlackRock’s IBIT spot bitcoin ETF, which added $612.1 million, marking the highest inflow so far. Fidelity’s FBTC came in second place with $245.2 million, followed by Ark Invest 21Shares’ ARKB with $23.8 million.
Despite the overall record net inflow, there were outflows of $216.4 million from Grayscale’s higher fee GBTC fund, the largest since January 30, and $3.4 million from VanEck’s HODL product. The remaining funds generated less than $10 million worth of inflows each on Wednesday.
Yesterday’s figures bring the total net inflows for all spot bitcoin ETFs combined to nearly $7.4 billion.
**BlackRock and Fidelity Reach Milestones in BTC Under Management**
Following the record inflows on Wednesday, BlackRock’s IBIT fund has reached over 150,000 BTC ($9.4 billion) under management, while Fidelity’s FBTC has surpassed 100,000 BTC ($6.3 billion) in assets.
The nine newborn spot bitcoin ETFs now hold more than 330,000 BTC in assets under management, adding around 30,000 BTC ($1.9 billion) in just two days.
In total, U.S. spot bitcoin ETFs collectively hold 768,280 BTC ($4.8 billion) with a net inflow of 149,080 BTC ($937 million) since their launch. However, assets held by Grayscale’s converted GBTC fund have dropped by 29% to just under 441,000 BTC ($28 billion) from around 619,000 BTC ($39 billion) since January 11.
**Global Net Inflows for Bitcoin ETPs and Total BTC Under Management**
Global net inflows for all bitcoin exchange-traded products reached 6,038 BTC ($380 million) on Wednesday. Despite huge outflows from Volatility Shares and a sizable outflow from Purpose, BlackRock’s enormous $612 million inflow offset some of the impact.
Global bitcoin exchange-traded products are nearing 1 million BTC under management, currently holding 980,000 BTC ($61.6 billion), with an addition of 133,300 BTC ($8.4 billion) so far this year.
**Record Daily Trading Volume for Spot Bitcoin ETFs**
On Wednesday, U.S. spot bitcoin ETFs generated a record trading volume of $7.61 billion. BlackRock’s IBIT led the market with $3.32 billion in trading volume, followed by Grayscale’s GBTC with $1.84 billion and Fidelity’s FBTC with $1.43 billion.
The total number of trades also doubled, with over half a million individual trades made by the nine new spot bitcoin ETFs.
Bitwise, Invesco, and ARK’s bitcoin ETFs have all broken their personal volume records as well. Market makers attribute the high volume to natural demand rather than algorithmic or arbitrage trading.
The cumulative trading volume for U.S. spot bitcoin ETFs now stands at $65.64 billion.
**Bitcoin Price Update**
Bitcoin is currently trading at $62,486, gaining a further 5% over the last 24 hours. It has increased by more than 22% over the past week and is up by 48% year-to-date. Bitcoin is now only 10% away from its previous all-time high of around $69,000 set in November 2021.
**Hot Take: U.S. Spot Bitcoin ETFs Break Records with Inflows and Trading Volume**
U.S. spot bitcoin ETFs achieved record net inflows of $673.4 million on Wednesday, surpassing their previous high. BlackRock’s IBIT dominated the inflows, reaching over 150,000 BTC under management. Fidelity also hit a milestone, surpassing 100,000 BTC in assets.
The cumulative trading volume for spot bitcoin ETFs also reached a new record on Wednesday, with BlackRock’s IBIT leading the market. The total trading volume for U.S. spot bitcoin ETFs now stands at $65.64 billion.
Bitcoin’s price continues to rise, currently trading at $62,486 and showing significant gains over the past week and year-to-date.
Overall, the U.S. spot bitcoin ETFs have made a strong impact on the crypto market, attracting substantial inflows and generating high trading volumes.
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