Source: Blockchain Knight

BlackRock’s spot BTC ETF (IBIT) recorded $418.8 million in net flows on December 16, becoming the most successful offering in more than 10 years ETFs.

The ETF Store CEO Nate Geraci emphasized that IBIT has defeated approximately 2,850 ETFs.

Geraci added: "In other words, IBIT has had more lifetime inflows than any ETF launched since 2014. It did it in just over 11 months."

Since its launch, IBIT has accumulated $36.3 billion in positive net inflows, surpassing the $36.2 billion in inflows received by spot BTC ETFs traded in the United States, according to data from Farside Investors.

This amount is nearly 3 times higher than the $12.4 billion in inflows of the second-largest spot BTC ETF (FBTC) managed by Fidelity.

In addition, IBIT is also the fund with the largest single-day inflow of funds among the BTC ETFs, with a single-day inflow of more than 1.1 billion US dollars.

This is more than 2 times higher than the single-day inflow record of FBTC, the second largest single-day inflow of the spot BTC ETF, of US$473.4 million.

Notably, while Grayscale’s GBTC has seen $21 billion in outflows since the switch, the spot BTC ETF has still received more than $36 billion in inflows so far this year.

Crypto-related ETFs are one of the main topics in the market this year. They provide institutional investors in the United States with a regulated way to gain exposure to BTC and Ethereum.

Analysts believe that Crypto ETF is one of the main driving forces behind BTC’s substantial growth this year.

In a recent report, Bitfinex analysts pointed out that the adoption of ETFs is one of the main catalysts that can change BTC’s previous cycle patterns.

In addition, Bloomberg Senior ETF Analyst Eric Balchunas highlighted the growth rate of BTC ETFs

The total assets under management of these products (including futures and leveraged ETFs) traded in the United States reached 1300 billion, exceeding the $128 billion of gold ETFs.

Even just looking at the spot BTC ETF’s nearly $117 billion in assets under management, Balchunas said it was “unreal” that the BTC ETF was so close to the gold ETF just 11 months after its launch.

Bitwise also believes that ETFs are one of the two major catalysts for Ethereum’s substantial growth next year.