US-based spot Bitcoin exchange-traded funds (ETFs) have recorded over $1 billion in inflows for two straight days, a first since their launch in January 2024.
On Friday, 11 spot Bitcoin ETF products reported combined inflows totaling $1.03 billion, following $1.17 billion the previous day, according to Farside data. BlackRock’s IBIT accounted for the lion’s share of the inflows, attracting over $953 million on Friday.
Notably, two of those occurred in the last two days. The previous high was $1.07 billion on January 17, 2024. The $1.17 billion inflow on Thursday was the second-largest daily figure since inception, surpassed only by the $1.37 billion inflow on November 7, 2024, the day of Donald Trump’s US presidential election victory.
Nate Geraci, president of NovaDius Wealth Management, noted in an X post that since the launch of these ETFs, there have been only seven days with inflows exceeding $1 billion.
Similarly, blockchain analytics firm Jan3 noted that on Wednesday, Bitcoin ETF demand was 22 times greater than the daily mined supply. However, Jan3 CEO Samson Mow cautioned that such demand is unlikely to be sustainable at current price levels.
Matt Hougan, Bitwise Invest’s chief investment officer, highlighted that while the Bitcoin network produced roughly 450 BTC on Thursday, spot Bitcoin ETFs bought about 10,000 BTC.
The price rally helped BlackRock’s spot Bitcoin ETF (IBIT) surpass $80 billion in assets under management (AUM) on Thursday. As reported, Bloomberg’s senior ETF analysts have assigned a 95% chance that the SEC will approve spot ETFs for Solana, XRP, and Litecoin this year, raising their previous odds from 90% amid growing optimism for institutional crypto products.
Bitcoin’s price surged to new all-time highs, reaching $112,000 on Wednesday and climbing further to $118,780 on Friday, according to CoinMarketCap.
The strong demand contributed to $2.72 billion in inflows over the past five trading days.
