The appetite for spot bitcoin ETFs reflects their massive success since launching earlier this year<\/a>. The SEC approved the first spot bitcoin ETFs in January, and products from heavyweights like BlackRock, Fidelity, and others quickly garnered billions in assets.<\/p>\n BlackRock’s iShares Bitcoin Trust (IBIT) led inflows<\/a> on Thursday with $89 million. Next was Fidelity’s Wise Origin Bitcoin Trust (FBTC) at $19 million, followed by $9.5 million into VanEck’s fund.\u00a0<\/p>\n Meanwhile, the Grayscale Bitcoin Trust (GBTC) saw a $14 million outflow, extending its loss streak as investors pivot to other spot ETFs with less fees.\u00a0<\/p>\n BlackRock is set to take over GBTC management, as its IBIT has rapidly become the leader among spot Bitcoin ETFs.\u00a0 It sits at nearly $20 billion<\/a> after just 4 months, while it takes the average ETF years to reach that milestone. IBIT is now only $300 million behind GBTC<\/a> in inflows to become the biggest Spot Bitcoin ETF.<\/p>\n This week, the U.K. also approved Bitcoin ETPs<\/a> to be listed in London, further validating Bitcoin as an institutional asset class.\u00a0If the current momentum continues, Bitcoin could be on track to finish May on a high note.<\/p>\n![](\"https:\/\/bitcoinmagazine.com\/.image\/c_fit%2Ch_800%2Cw_1200\/MjA0MzE5MTg5MTE1NDc5NDkz\/bm-x-unchained-article-cta---learn-more.png\")
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