Blackrock’s IBIT Propels US Spot Bitcoin ETFs to $124M Inflows on Monday

U.S. spot bitcoin exchange-traded funds (ETFs) attracted $124.13 million on Monday, elevating the total net inflows to $17.71 billion. Data indicates that $2.68 billion was traded during Monday’s sessions, with Blackrock’s IBIT emerging as the only gainer.

Blackrock’s IBIT Emerges as Monday’s Sole Gainer

On Monday, sosovalue.xyz stats show the 11 U.S. spot bitcoin ETFs garnered $124.13 million in inflows, driven entirely by gains in IBIT. Blackrock‘s IBIT drew in $205.62 million, while three other funds experienced net outflows. Grayscale’s GBTC saw a withdrawal of $54.29 million, Bitwise’s BITB lost $21.3 million, and Fidelity’s FBTC faced a modest reduction of around $5.89 million.

With Blackrock’s recent inflows, the fund is approaching the 350,000 BTC mark, currently holding 341,520.68 BTC valued at $22.7 billion. Seven of the 11 funds experienced neutral trading days on Monday, with no inflows or outflows. Since Jan. 11, 2024, the 11 spot bitcoin ETFs have accumulated $17.71 billion in net inflows, bringing the ETF reserves to $61.73 billion, representing 4.64% of BTC’s overall market valuation.

The sustained interest in U.S. spot bitcoin ETFs, highlighted by the recent influx into Blackrock’s IBIT, underscores a shifting landscape in BTC investments. The funds’ ETH counterparts have seen dominant net outflows pushing cumulative inflows into the negative territory. As market participants navigate these dynamic waters, the interplay between inflows and outflows will likely continue to shape the broader narrative.

What do you think about Monday’s spot bitcoin ETF trading action? Share your thoughts and opinions about this subject in the comments section below.

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