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Spot Bitcoin ETFs Draw About $2.5 Billion Monthly Inflows, Nearly Wiping Out 2024 Outflows

Bloomberg ETF analyst Eric Balchunas said U.S. spot Bitcoin ETFs attracted about $2.5 billion this month, with BlackRock’s IBIT turning positive for the year despite Bitcoin’s roughly 40% six-month decline.

BTC

Summary

U.S. spot Bitcoin ETFs recorded about $2.5 billion in net inflows this month, nearly erasing their earlier year-to-date outflows. Bloomberg ETF analyst Eric Balchunas said BlackRock’s iShares Bitcoin Trust (IBIT) has now turned positive for the year and ranks among the top two ETFs by year-to-date flows. He also said ETF demand remained resilient even though Bitcoin fell about 40% over the past six months.

Terms & Concepts
  • Spot Bitcoin ETF: An exchange-traded fund that holds Bitcoin directly, allowing investors to gain exposure without personally holding the cryptocurrency.
  • Net inflows: The total amount of money entering a fund after subtracting withdrawals over a specific period.
  • IBIT: BlackRock’s iShares Bitcoin Trust, a U.S.-listed spot Bitcoin ETF.