In just ten months, Bitcoin ETFs in the US surpassed $20 billion in net inflows thanks to institutional interest, while gold ETFs took five years to achieve the same result.
On October 17, Bitcoin spot ETFs in the United States reached an important milestone, surpassing the barrier of $20 billion in total net inflows. BlackRock’s iShares Bitcoin Trust (IBIT) leads the ranking of Bitcoin ETFs, having recorded inflows of $22.7 billion.
The milestone was reached after a week in which over $1.8 billion flowed into the funds, coinciding with a 10% increase in Bitcoin’s price, bringing it to over $68,000.
ETF statistics
According to data from Farside, on October 17, BlackRock’s IBIT reported inflows of $309 million, the ARK 21Shares Bitcoin ETF recorded inflows of $100.2 million, Grayscale’s GBTC saw a capital inflow of $45.7 million, while Fidelity’s FBTC reported inflows of $11.7 million.
In terms of total assets under management, ETFs have surpassed the $65 billion threshold, now holding over 950,000 bitcoins.
Eric Balchunas, ETF analyst for Bloomberg, pointed out that Bitcoin ETFs have reached over $20 billion in net inflows in less than a year, a result that took gold ETFs five years to achieve.
Morgan Stanley also among the holders
Morgan Stanley’s holdings in Bitcoin ETFs have reached $272 million, equivalent to 0.02% of the company’s total assets under management, which amount to $1,200 billion. Last August, the New York-based investment bank allowed its financial advisors to offer eligible clients the opportunity to purchase shares of Bitcoin ETFs.
