BlackRock’s IBIT ETF holds $18b in BTC amid continuous inflows

BlackRock’s iShares Bitcoin Trust (IBIT) now holds over $18 billion in Bitcoin (BTC) as inflows continue into the ETFs. 

According to data provided by Farside Investors, spot BTC ETFs saw $216.4 million in inflows on Tuesday, recording their third day of consecutive inflows. The total amount of inflows currently stands at $15.2 billion.

Data shows that the IBIT ETF saw $121 million in inflows on July 9 — helping the investment product surpass a total market cap of $18.04 billion. Interestingly, BlackRock’s spot BTC ETF witnessed only one day of net outflows on May 1, worth $36.9 million. 

On the other hand, Grayscale Bitcoin Trust (GBTC) recorded $37.5 million in net outflows. Notably, the investment product saw $25.1 million in inflows on July 8 as the week started with a market-wide bullish momentum.

The GBTC ETF has seen more than $18.6 billion in net outflows since the investment product launched in the U.S.

Bitwise Bitcoin ETF (BITB) also witnessed downward momentum with $4.7 million in outflows.

Fidelity Wise Origin Bitcoin Fund (FBTC), ARK 21Shares Bitcoin ETF (ARKB) and VanEck Bitcoin Trust (HODL) also assisted with $91 million, $43.3 million and $3.3 million in net inflows, respectively. 

While yesterday’s inflows are smaller than Monday’s $295 million, it still helped maintain the bullish momentum in the crypto ecosystem.

Consequently, Bitcoin reached an intraday high of $59,400 for the first time in a week. The flagship cryptocurrency is trading at $59,200 at the time of writing.