US spot Bitcoin exchange-traded funds (ETFs) have just crossed $50 billion in net inflows, just 18 months after their inception in January 2024.
BlackRock’s iShares Bitcoin Trust ETF (IBIT) led the charge with a net inflow of $53 billion, whereas the Fidelity Wise Origin Bitcoin Fund (FBTC) saw the second highest net inflow of $12.29 billion.
Grayscale Bitcoin Trust ETF (GBTC) was the only fund to witness a net outflow, losing $23.34 billion, according to Farside Investors.
This year, overall digital asset products have attracted a net inflow of $18.96 billion, with Bitcoin accounting for nearly 83% of the total inflows, while Ethereum accounted for 16% of the total inflows, according to CoinShares.
IBIT remains the most dominant product, as the fund became the first Bitcoin ETF to hold more than 700,000 BTC on Tuesday. The fund now holds more than 55% of the total BTC across all spot Bitcoin ETFs.
Last week, it was reported that BlackRock now earns more revenue from its IBIT fund than its flagship S&P 500 fund, iShares Core S&P 500 ETF, on an annual basis.
Bitcoin corporate treasuries on the rise
Bitcoin has also witnessed high demand from corporations, many of whom established Bitcoin treasuries in 2024.
On Monday, Japan’s Metaplanet acquired BTC worth $237 million, making the company the fifth-largest corporate holder of Bitcoin. Its total BTC stack exceeds 15,500 BTC.
On the same day, two European companies added Bitcoin to their existing Bitcoin reserve.
France’s The Blockchain Group and the United Kingdom’s Smarter Web Company added Bitcoin worth $12.5 million and $24.3 million to their respective treasuries.
Remixpoint, a Japanese company listed on the Tokyo Stock Exchange, announced it has raised $215 million to buy more Bitcoin and intends to accumulate 3,000 BTC in the near future.
Bitcoin at all-time high while ETH surges
On Wednesday, BTC hit a new all-time high of $112,000, with short sellers getting liquidated for nearly $200 million.
Related: ‘See you at $150K,’ says Bitcoin bull after BTC taps new highs
Apart from Bitcoin, analysts expect Ether to reach the $3,000 mark sometime this week due to its bullish market structure.
In the past 24 hours, the price of ETH has surged by 6.6% and it is currently trading at $2,778, according to CoinGecko.
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