BlackRock’s newly approved Bitcoin exchange-traded fund (ETF) continues to steal the show: the hot digital commodity received over $612 million in inflows just yesterday.

There was enough good news to spread around: the 10 spot Bitcoin ETFs collectively experienced $673.4 million in inflows, BitMEX Research shows—although BlackRock’s new fund is by far the most popular.

When trading closed yesterday, over $3.3 billion in iShares Bitcoin Trust (IBIT) shares had traded hands, according to Nasdaq data. BlackRock’s iBIT now shows over $8.5 billion in assets under management.

Of the 11 spot Bitcoin ETFs that received the green light in January from the Securities and Exchange Commission, 10 are trading and receiving inflows. 

The huge inflows have been offset by outflows from Grayscale’s Bitcoin fund, though. Over $216 million left the fund yesterday. Grayscale’s entry previously operated like a closed-end fund, b

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Author: Mathew Di Salvo

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