Just one day after the spot Bitcoin ETFs achieved a notable milestone with a net inflow of $1.05 billion, BlackRock’s IBIT saw inflows exceeding the total outflows of Grayscale’s GBTC for the first time.

According to data compiled by SoSo Value, as of March 13th, IBIT’s cumulative inflow amounted to $12.03 billion, whereas GBTC’s cumulative outflows stood at $11.4 billion.

BlackRock’s IBIT Inflows Trump GBTC Outflows

BlackRock’s spot Bitcoin ETF – iShares Bitcoin Trust (IBIT) – has been one of the most popular investment vehicles since its approval two months ago enabling investors exposure to BTC’s price moves. It recorded net inflows of $586 million or 8,017 BTC on March 13th, pushing its total historical net inflow to above $12 billion.

The collective net influx into spot Bitcoin ETFs amounted to $683 million, while Grayscale’s GBTC observed a net outflow of $276 million or 3,779.9 BTC in a single day.

Meanwhile, Fidelity’s FBTC attracted $281.5 million in inflows, followed by ARK 21Shares’s ARKB with 44.6 inflows and Franklin Templeton’s EZBC with $19.1 million. VanEck’s HODL, on the other hand, raked in $16.5 million in inflows. The asset manager had recently slashed its fee to zero amidst heightened competition among competitors, resulting in inflows of $118.8 million just two days ago.

Bitwise’s BITB, Valkyrie ‘BRRR’, and WisdomTree’s BTCW settled for $5.6 million, $4.1 million, and $2.3 million respectively during the same period. There has been a total inflow of $11.8 billion since the ETFs were first greenlit by the US Securities and Exchange Commission on January 11th, 2024.

[1/4] Bitcoin ETF Flow – 13 March 2024

All data in. Another strong day, with $684m of net inflow pic.twitter.com/Bo4RBNOJ8Q

— BitMEX Research (@BitMEXResearch) March 14, 2024