Bitcoin ETFs See $2.2 Billion Inflows in Five Days as Price Hits $118,780

US-based spot Bitcoin exchange-traded funds (ETFs) have recorded over $1 billion in inflows for two consecutive days, marking the first time this has occurred since their launch in January 2024. On Friday, 11 spot Bitcoin ETF products reported combined inflows totaling $1.03 billion, following $1.17 billion the previous day. This surge in inflows is notable, as there have only been seven days with inflows exceeding $1 billion since the launch of these ETFs. Two of those days occurred in the last two days, with the previous high being $1.07 billion on January 17, 2024.

The $1.17 billion inflow on Thursday was the second-largest daily figure since inception, surpassed only by the $1.37 billion inflow on November 7, 2024, the day of Donald Trump’s US presidential election victory. BlackRock’s IBIT accounted for the lion’s share of the inflows, attracting over $953 million on Friday. This strong demand contributed to $2.72 billion in inflows over the past five trading days.

Bitcoin’s price surged to new all-time highs, reaching $112,000 on Wednesday and climbing further to $118,780 on Friday. The price rally helped BlackRock’s spot Bitcoin ETF (IBIT) surpass $80 billion in assets under management (AUM) on Thursday. ETF analyst Eric Balchunas called it the “fastest ETF” to reach this milestone, achieving it in just 374 days. Recently, BlackRock reported earning more revenue from IBIT than from its flagship iShares Core S&P 500 ETF. Balchunas added that total assets across all spot Bitcoin ETFs crossed $140 billion for the first time, largely driven by the recent price surge.

Matt Hougan, Bitwise Invest’s chief investment officer, highlighted that while the Bitcoin network produced roughly 450 BTC on Thursday, spot Bitcoin ETFs bought about 10,000 BTC. Similarly, blockchain analytics firm Jan3 noted that on Wednesday, Bitcoin ETF demand was 22 times greater than the daily mined supply. However, Jan3 CEO Samson Mow cautioned that such demand is unlikely to be sustainable at current price levels.

Beyond ETFs, institutional Bitcoin demand is spreading into corporate treasuries. Japan’s Metaplanet recently bought $237 million worth of BTC, becoming the fifth-largest corporate holder with a stack exceeding 15,500 BTC. France’s The Blockchain Group and the UK’s Smarter Web Company also made new BTC treasury allocations this week, purchasing $12.5 million and $24.3 million worth of Bitcoin respectively. Remixpoint, a Tokyo-listed firm, raised $215 million to fund a planned accumulation of 3,000 BTC.