US spot bitcoin ETFs surpass $100 billion in assets amid bitcoin's record rally

U.S. spot bitcoin exchange-traded funds saw their total net asset value exceed $100 billion on Wednesday as bitcoin continued to reach new all-time highs.

The total net value of the assets held by the 12 spot bitcoin ETFs reached $100.55 billion yesterday, representing nearly 5.4% of all bitcoin market capitalization, according to data from SoSoValue. 

BlackRock’s IBIT held $45.4 billion in net assets, while Grayscale’s GBTC held $20.6 billion, making them the two largest spot bitcoin ETFs.

Bitcoin’s price has repeatedly reached new all-time highs for the past few weeks, with the world’s largest crypto currently trading at around $97,094, up 3.8% over the past 24 hours, according to The Block’s price page .

The 12 ETFs recorded $733.5 million in total net inflows on Wednesday, following inflows of $837.36 million the day before. 

IBIT led the positive flows, with $626.5 million flowing into the fund. GBTC logged zero flows for the day. Fidelity’s FBTC reported $133.9 million in inflows, followed by $9.3 million into Bitwise’s BITB and $3.8 million into Ark and 21Shares’ ARKB.

The 12 ETFs traded $5.09 billion on Wednesday, slightly down from $5.71 billion on Tuesday.

Meanwhile, spot Ethereum ETFs in the U.S. saw $30.3 million in net outflows on Wednesday, extending their streak of negative flows to five days. The nine ether ETFs’ trading volume shrank to $338.3 million yesterday, compared to $345.1 million the day before.