Photo credit: Angus Mordant/Bloomberg

BlackRock’s iShares Bitcoin Trust (IBIT) led net inflows into the United States-listed exchange-traded funds (ETFs) that closely track Bitcoin’s spot price on July 16.

IBIT’s positive flow of $260.23 million represents more than half of the 11 Bitcoin funds’ cumulative inflow of $422.67 million, data from SoSoValue shows. The latest daily influx is also the highest single-day record since June 25 when the products notched $488.24 million.

Blackrock’s Bitcoin stash has since crossed the $20 billion mark as BTC ETFs record their eighth consecutive winning run. It remains to be the world’s largest Bitcoin fund.

The Fidelity Wise Origin Bitcoin Fund (FBTC) followed IBIT’s lead, raking in $61.05 million. Net inflows were also seen across other Bitcoin funds, namely Ark Invest and 21 Shares’s ARKB ($29.85 million), VanEck’s HODL ($22.04 million), and Invesco and Galaxy Digital’s BTCO ($20.54 million).

Bitcoin funds from Bitwise, Franklin Templeton, and Valkyrie Digital Assets also recorded positive flows, totaling $28.97 million, whereas products from Grayscale Investments, WisdomTree, and Hashdex didn’t see any flows.

Read more: Digital asset inflows reached $1.44B last week led by US

Some $1.76 billion was traded in Bitcoin funds on the last trading day. The milestone adds to the growing momentum of these investment vehicles, which have attracted a net inflow of $16.53 billion since their January debut.

Bitcoin exchanges hands at $65,358.59, up 3.9% in the last 24 hours, at the time of writing, per CoinGecko data.

Besides the ETF inflows, the price recovery may be attributed to the depletion of the German government’s Bitcoin holdings and optimism in the probability of supposed pro-crypto candidate Donald Trump winning the US presidential election on Nov 4.

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