Yesterday was yet another day of record inflows for the recently approved spot bitcoin exchange-traded funds in the United States.

On March 12, net spot bitcoin ETF inflows hit over $1 billion, according to data from BitMEX Research.

At the same time, Blackrock's IBIT product — which, earlier this week, crossed 200,000 BTC in assets under management — saw a record $849 million inflow.

In bitcoin terms, yesterday witnessed a record 14,706 BTC -0.70% inflow.

Meanwhile, total net bitcoin ETF inflows since Jan. 11, 2024 reached $11.1 billion.

As of yesterday, spot bitcoin ETFs now hold upward of 90% of the daily trading volume market share for ETFs offering bitcoin exposure — an all-time high. Bitcoin futures ETFs, meanwhile, now claim just 10% of the market share.

So far, spot ETFs for the foremost cryptocurrency have proven objectively successful across virtually all measurable metrics.

“To see more than $1 billion of net inflows, a new record, more than a month since launch is nothing short of impressive for any ETF," noted The Block's VP of Research, George Calle.

“The U.S. spot Bitcoin ETFs have been widely successful well beyond even the most optimistic expectations,” GSR Research Analyst Brian Rudick told The Block yesterday. “Their $10 billion-plus of inflows in just two months is approaching what most thought they would do in the first year, and there are arguments for why inflows may increase from here, like greater issuer sales efforts, their addition to wealth manager product offerings, and normalizing GBTC outflows.”