US Bitcoin ETFs are more valuable than ever after 7-day inflow streak
Quick Take U.S.-based spot Bitcoin ETFs have racked up nearly $40 billion in cumulative net inflows since their launch just over a year ago. A recent seven-day inflow streak has brought the ETFs to their highest value yet this week — over $123 billion in total net asset value. Nasdaq filed an amended rule filing on Friday that would allow for redemptions and creations in kind for the iShares Bitcoin Trust, the largest such ETF on the market.
U.S.-based spot Bitcoin ETFs have nearly crossed a new threshold: at last count, the funds have seen a cumulative total net inflow of $39.94 billion since their launch just over a year ago , the largest such value yet and a hair below the $40 billion mark.
The value of the total net assets held by the fund following last week's four trading days is $123.1 billion, according to SoSoValue data, the second-highest sum after Tuesday's $123.6 billion, while Bitcoin's price again rose above the $100,000 mark. Bitcoin has now spent more days above $100,000 than any time in the past, signaling enthusiasm for the cryptocurrency returning alongside President Trump's inauguration for his second term.
Last week, which was a shortened trading week due to the market's closure for Martin Luther King Jr. Day on Monday, the funds took in $1.76 billion worth of inflows and extended their inflow streak to seven trading days.
$1.32 billion of that total went to BlackRock's iShares Bitcoin Trust ETF, still the largest such fund on the market, according to SoSoValue's stats. Nasdaq filed a rule change on Friday that would allow for redemptions and creations in kind for the fund, The Block previously reported . Currently the fund sells Bitcoin and returns cash to an investor who redeems their shares, but the rule change would allow for the investor to receive Bitcoin directly.
Fidelity's FBTC fund logged $202.2 million worth of inflows last week, the second-highest value, with Ark and 21Shares' ARKB taking the third-place slot with $172.6 million worth of inflows.
Though BlackRock's fund broke its own outflow record earlier this month, the trend appears to have reversed in recent days with the inflow streak. The streak coincides with Donald Trump's inauguration for a second term; the candidate has expressed pro-crypto sentiments, and his ally and Department of Government Efficiency chief Elon Musk is reportedly exploring blockchain adoption at the federal government level to cut costs.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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