US spot Bitcoin exchange-traded funds (ETFs) have just crossed $50 billion in net inflows, just 18 months after their inception in January 2024. That’s more money than I’ve ever seen in my life, and I’ve seen a lot of money in my day! 🤑
BlackRock iShares Bitcoin Trust ETF (IBIT) led the charge with a net inflow of $53 billion, whereas Fidelity Wise Origin Bitcoin Fund (FBTC) saw the second highest net inflow of $12.29 billion. I mean, who needs a real job when you can just throw money at a digital coin and hope for the best? 🤷♂️
Grayscale Bitcoin Trust ETF (GBTC) was the only fund to witness a net outflow, losing $23.34 billion, according to Farside Investors. I guess some people just can’t handle the thrill of digital gold. 🤦♂️
Overall, digital asset products have attracted a net inflow of $18.96 billion, with Bitcoin accounting for nearly 83% of the total inflows, while Ethereum accounted for 16% of the total inflows, according to CoinShares. It’s like a digital treasure hunt, but instead of a map, you just have a bunch of algorithms and a prayer. 🙏
IBIT remains the most dominant product, as the fund became the first Bitcoin ETF to hold more than 700,000 BTC on Tuesday. The fund now holds more than 55% of the total BTC across all spot Bitcoin ETFs. I guess when you’re dealing with digital money, the sky’s the limit! 🚀
Last week, it was reported that BlackRock now earns more revenue from its IBIT fund than its flagship S&P 500 fund, iShares Core S&P 500 ETF, on an annual basis. Who needs stocks when you can have crypto? 🤑
Bitcoin corporate treasuries on the rise
Bitcoin has also witnessed high demand from corporations, many of whom established Bitcoin treasuries in 2024. I mean, why keep your money in a bank when you can keep it in a digital wallet that might just double in value overnight? 🤷♂️
On Monday, Japan’s Metaplanet acquired BTC worth $237 million, making the company the fifth-largest corporate holder of Bitcoin. Its total BTC stack exceeds 15,500 BTC. I guess they decided to put all their eggs in one digital basket. 🥚
On the same day, two European companies added Bitcoin to their existing Bitcoin reserve. France’s The Blockchain Group and the United Kingdom’s Smarter Web Company added Bitcoin worth $12.5 million and $24.3 million to their respective treasuries. It’s like a digital treasure hunt, but with a European twist! 🇫🇷🇬🇧
Remixpoint, a Japanese company listed on the Tokyo stock exchange, announced it has raised $215 million to buy more Bitcoin and intends to accumulate 3,000 BTC in the near future. I guess they’re betting on the future, and the future is looking pretty digital. 🤖
Bitcoin at all-time high while ETH surges
On Wednesday, BTC hit a new all-time high of $112,000, with short sellers getting liquidated for nearly $200 million. I guess some people just can’t handle the volatility. 🤦♂️
Apart from Bitcoin, analysts expect Ether to reach the $3,000 mark sometime this week due to its bullish market structure. It’s like a digital rollercoaster, but with more zeros. 🎢
In the past 24 hours, the price of ETH has surged by 6.6% and it is currently trading at $2,778, according to CoinGecko. I guess when it comes to crypto, the only constant is change. 🤷♂️
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2025-07-10 09:27