U.S. spot Bitcoin exchange-traded funds (ETFs) have reached a new milestone, surpassing their previous record for total net asset value (NAV). As of today, these funds collectively hold more than $66.1 billion worth of Bitcoin, surpassing the previous high of $62.6 billion set in early June.
The continued influx of capital into these funds has been driven by a combination of factors, including a recent surge in Bitcoin prices and growing investor interest in cryptocurrency exposure. In the past week alone, these ETFs have seen net inflows of over $2.1 billion, marking their best week of inflows since early March. This positive trend has continued for six consecutive trading days.
The growing popularity of Bitcoin ETFs has also contributed to the cryptocurrency’s market capitalization. As of today, these funds hold approximately 4.89% of Bitcoin’s total market cap.
BlackRock’s iShares Bitcoin Trust (IBIT) has been a standout performer during this period, experiencing a significant increase in its asset value. Since the close of trading on October 10, IBIT’s assets have grown by more than $3 billion, making it the individual fund with the largest increase in value.
