U.S. Bitcoin ETFs Surge to $170 Billion in AUM
In early January 2024, the U.S. launched its first Bitcoin spot ETFs, marking a significant milestone in cryptocurrency investment. As of October 7, these ETFs have amassed an impressive $170 billion in assets under management (AUM).
The iShares Bitcoin Trust (IBIT), managed by BlackRock, has been a standout performer among these ETFs. Currently at an AUM of approximately $97 billion, IBIT has attracted significant institutional demand since its inception. It has seen nearly $64.5 billion in net inflows, with a record single-day inflow of $899 million on October 7. This figure not only surpasses the total ETF inflows of $876 million in the same period but also sets a new high for the current cycle, although it falls short of earlier peaks of up to $1.4 billion.
The inflows into Bitcoin ETFs have been supportive of spot demand, with Bitcoin prices fluctuating between $118,000 and $125,000 during October 6 and 7.
The U.S. Bitcoin ETF market has shown remarkable growth since its launch in early 2024, with cumulative AUM reaching $170 billion by October 7. IBIT, in particular, has attracted substantial inflows, demonstrating the increasing appetite for cryptocurrency investments among institutional investors.
