U.S. Bitcoin ETFs See Record Inflows for 9th Consecutive Day, Led by BlackRock's $89M

May 24, 2024, 12:43 PM

U.S. Bitcoin ETFs have experienced a significant surge in inflows over the past several days, reaching new record levels. On May 23, 2024, Bitcoin ETFs saw net inflows of $107.9 million, marking the ninth consecutive day of positive inflows. BlackRock's Bitcoin ETF led the charge with $89 million in inflows, bringing its total holdings to 283,205 BTC valued at $19.2 billion. Fidelity also reported significant inflows, adding 282 BTC worth $19 million. Grayscale, however, saw a decrease of 12 BTC, bringing its holdings to 289,500 BTC valued at $19.63 billion. The total net flow for U.S. Bitcoin ETFs on May 24, 2024, was $251.9 million, with BlackRock again leading with $182.1 million. VanEck also contributed with inflows of $15.6 million. Over the past ten trading days, U.S. Bitcoin ETFs have bought approximately 30,000 BTC, worth around $1.75 billion. These inflows have pushed the total holdings of U.S. spot Bitcoin ETFs to over 850,000 BTC, surpassing the previous record of 845,000 BTC set in April. This surge in inflows is seen as a potential indicator of a second wave of demand for Bitcoin ETFs.