US-based spot Bitcoin ETFs recorded over $1 billion in daily inflows for the second consecutive day on Friday, marking the first time since their January 2024 launch that theyve seen two back-to-back days with ten-digit inflows.On Friday, the 11 spot Bitcoin (BTC) ETF products recorded total inflows of $1.03 billion, following $1.17 billion in inflows the day before, according to Farside data.$2.72 billion flowed into Bitcoin ETFs across the ATH weekNovaDius Wealth Management president Nate Geraci said in an X post that since the January 2024 launch, there have been only seven inflow days exceeding $1 billion, two of which occurred in the past two days.
Before that, the last was on Jan.
17, with $1.07 billion.Bitcoin is up 8.85% over the past seven days.
Source: CoinMarketCapThe $1.17 billion inflow on Thursday was their second-largest daily inflow since inception, behind only the $1.37 billion recorded on Nov.
7, 2024, when Donald Trump won the US presidential election.
Bitwise Invest chief investment officer Matt Hougan said in a Friday post that while the Bitcoin network produced about 450 Bitcoins on Thursday, spot Bitcoin ETFs bought around 10,000.Similarly, Jan3 pointed out that on Wednesday, Bitcoin ETF demand was 22x greater than the daily mined supply.Source: Jan3Jan3 CEO Samson Mow said, This demand is not sustainable at these price levels.It was a strong trading week for spot Bitcoin ETFs, with $2.72 billion in inflows over five days, as Bitcoins spot price hit fresh all-time highs of $112,000 on Wednesday and continued climbing to reach $118,780 on Friday, according to CoinMarketCap data.BlackRocks Bitcoin ETF becomes fastest ETF to cross $80 billion in AUMThe price surge led to BlackRocks spot Bitcoin ETF (IBIT) crossing $80 billion in assets under management (AUM) on Thursday.
ETF analyst Eric Balchunas said in a post on Friday that it was the fastest ETF to ever do that in 374 days.Related: Despite record high, S&P 500 is down in Bitcoin termsIt was recently 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.Balchunas added, Total assets for all the spot Bitcoin ETFs crossed $140b for the first time as well.
However, he said that the price surge did most of the heavy lifting here.Magazine: Inside a 30,000 phone bot farm stealing crypto airdrops from real users