U.S. spot bitcoin ETFs have seen unprecedented success with $107.91 million in inflows, marking nine continuous days of gains as of Thursday. This streak is the longest since the SEC’s approval of the first spot bitcoin ETFs in January, a significant milestone. BlackRock’s iShares Bitcoin Trust (IBIT) led the surge with $89 million in inflows, showcasing the rapid acceptance of these financial products which amassed nearly $20 billion in just four months, a feat that typically takes years. The shift towards spot ETFs, notably with lower fees than the Grayscale Bitcoin Trust (GBTC), highlights investor preference for more economical options. This trend underscores bitcoin’s growing legitimacy as an institutional asset class, especially with the U.K.’s recent approval of Bitcoin ETPs, hinting at a robust future for digital currency investments.
