US spot Bitcoin ETFs have now exceeded $50 billion in net inflows just 18 months after launching in January 2024.

Leading the inflow figures is BlackRock’s iShares Bitcoin Trust ETF (IBIT), which attracted $53 billion, followed by the Fidelity Wise Origin Bitcoin Fund (FBTC) with $12.29 billion. Grayscale’s Bitcoin Trust ETF (GBTC) was the only one to experience a net outflow, totaling $23.34 billion, according to Farside Investors.

This year, digital asset products as a whole have seen $18.96 billion in net inflows, with Bitcoin accounting for nearly 83% and Ethereum representing 16%, based on data from CoinShares.

IBIT continues to dominate the market and recently became the first Bitcoin ETF to hold over 700,000 BTC. It now accounts for more than 55% of the total Bitcoin held across all spot ETFs.

It was also reported last week that BlackRock now earns more annual revenue from IBIT than from its flagship iShares Core S&P 500 ETF.

Corporate interest in Bitcoin remains strong, with several companies establishing or expanding Bitcoin reserves in 2024. On Monday, Japan’s Metaplanet acquired $237 million worth of BTC, becoming the fifth-largest corporate holder with a total of over 15,500 BTC.

Also on Monday, two European companies added to their reserves: France’s The Blockchain Group and the UK’s Smarter Web Company purchased $12.5 million and $24.3 million in Bitcoin, respectively.

Japanese firm Remixpoint, listed on the Tokyo Stock Exchange, announced it raised $215 million to expand its Bitcoin holdings, with plans to accumulate 3,000 BTC soon.

On Wednesday, Bitcoin reached a new all-time high of $112,000, triggering liquidations of nearly $200 million in short positions.

Meanwhile, Ethereum is also showing strength, with analysts expecting it to reach $3,000 in the near term due to favorable market conditions. In the past 24 hours, ETH rose by 6.6% and is now trading at $2,778, according to CoinGecko.

Sources:

https://cointelegraph.com/news/us-bitcoin-etfs-reach-50b-milestone-just-18-months-after-launch

https://blog.coinshares.com/volume-241-digital-asset-fund-flows-weekly-report-0c44f0a06577

https://www.coingecko.com/en/coins/ethereum

https://farside.co.uk/btc/