BlackRock's IBIT Spot Bitcoin ETF Achieves a Record Daily Inflow of $788 Million

BlackRock's IBIT spot bitcoin exchange-traded fund (ETF) hit a record daily inflow of $788.3 million on Tuesday, reaching a new all-time high above $69,000 for the first time since November 2021. The inflows were 30% higher than the previous record, and net inflows for all U.S. spot bitcoin ETFs reached $648.4 million, the highest since February 28. Despite this, Grayscale's converted GBTC fund saw $332.5 million in outflows, adding to its total outflows of $9.6 billion. Fidelity's FBTC and Ark Invest 21 Shares also experienced significant inflows, while Invesco's BTCO saw outflows. The combined U.S. spot bitcoin ETFs now manage over $50 billion in assets, with IBIT alone holding nearly 174,000 BTC. Trading volume for the U.S. spot bitcoin ETFs also reached a record of $9.75 billion on Tuesday, with BlackRock's IBIT leading the way with a record $3.76 billion. Bitcoin's price broke its previous all-time high of $69,000, reaching a new peak after 846 days, but subsequently fell by over $10,000 within minutes, leading to over $1 billion in liquidations. The cryptocurrency has since recovered and is currently trading at $66,302.