Nine new Bitcoin spot funds have raised more than 500,000 Bitcoins since launching in January, and their holdings now account for 2.54% of the current circulating supply.
According to Farside Investors, the nine ETFs, which launched on January 11, reached a milestone after another day of inflows on Thursday, which saw them accumulate $287.7 million in Bitcoins.
This brings the amount of Bitcoin held by the nine ETFs now to $35 billion in just 54 trading days.
In total, all U.S. Bitcoin spot funds, including Grayscale, hold 835,000 BTC, accounting for nearly 4% of the total supply, he noted.
This week, inflows into ETFs again made gains, with $845 million in inflows measured so far this week, reversing a trend of outflows that began on March 18.
On March 28, total inflows totaled $183 million, led by BlackRock, whose IBIT fund saw inflows of $95 million.
Fidelity and Bitwise saw similar inflows of about $67 million each, while Ark 21Shares recorded $27.6 million after a huge inflow of $200 million on Wednesday.
The crypto asset manager has now divested some 284,846 BTC from its GBTC fund since its conversion to a spot ETF in mid-January.
In related news, Bitwise filed an S-1 application with the Securities and Exchange Commission for its Ethereum spot ETF on March 28.
Another ETF analyst, Eric Balchunas, reacted to the news by stating that his odds of ETH ETF approval in May remain a pessimistic 25%, but could drop lower. He added that the deadline is seven weeks away, and the radio silence from the SEC is grim.
