US Bitcoin ETFs See Over $50B In Net Inflows, IBIT Leads with 700,000 BTC Holding

US spot Bitcoin ETFs have amassed over $50 billion in net inflows within 18 months, led by IBIT and FBTC, while GBTC experienced a net outflow. Overall digital asset products saw $18.96 billion in net inflows this year, with Bitcoin dominating at 83% and Ethereum at 16%, according to CoinShares.

IBIT becomes the first Bitcoin ETF to hold over 700,000 BTC, now owning more than half of the total BTC across all spot Bitcoin ETFs. BlackRock’s IBIT fund currently generates more revenue annually than its flagship S&P 500 fund.

Corporations are increasingly establishing Bitcoin treasuries in 2024, with Japan’s Metaplanet acquiring $237 million in BTC, two European companies adding Bitcoin to their reserves, and Remixpoint raising $215 million to purchase 3,000 BTC.

BTC reached a new all-time high of $112,000, with short sellers losing nearly $200 million. Analysts anticipate Ether to hit $3,000 this week due to its bullish market structure, with the price of ETH rising by 6.6% in the past 24 hours and currently trading at $2,778 according to CoinGecko.

Read more at Cointelegraph: US Bitcoin ETFs Cross $50B In Net Inflows Since Inception