U.S. spot Bitcoin ETFs attracted a significant $39.5 million in investments on Wednesday, underscoring strong demand despite ongoing market volatility. This marks the fifth consecutive day of net inflows, even as Grayscale’s GBTC continues to experience outflows, with its market share slipping below 25%. Bitcoin (BTC) rebounded above $60,700 after briefly dipping below $60,000, according to CoinMarketCap data.
Over the past five days, Bitcoin ETFs have seen cumulative inflows of $236.6 million, bringing total net inflows close to $17.6 billion since their launch, according to Farside Investors. Bloomberg’s Eric Balchunas forecasted that within a year, U.S. ETFs could hold more Bitcoin than Satoshi Nakamoto, with BlackRock possibly reaching this milestone on its own.
Bloomberg analyst James Seyffart mentioned on the Wolf of All Streets podcast that these ETFs are nearing the acquisition of 1 million Bitcoin, having capitalized on recent market dips to accumulate substantial amounts.
Bitwise CIO Matt Hougan emphasized that Bitcoin ETFs are at the forefront of institutional adoption among exchange-traded funds. He noted that Bitcoin ETFs now have 1,100 institutional holders and $11 billion in institutional assets under management (AUM) within just two quarters. For comparison, the Invesco QQQ (Nasdaq-100) ETF has 374 institutional holders and $13.3 billion in institutional AUM.
Hougan also highlighted that the massive retail adoption of Bitcoin ETFs makes the scale of institutional participation appear smaller by comparison.
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