Spot bitcoin exchange-traded funds (ETFs) in the United States experienced a total daily net inflow of $28.32 million on Wednesday, marking their 12th consecutive day of inflows, the longest streak since the last week of February.

According to data from SoSoValue, the majority of these inflows were driven by BlackRock’s IBIT, which attracted $24.5 million worth of funds. In contrast, Grayscale’s GBTC witnessed net outflows of $31 million, widening the gap between IBIT and GBTC. This shift occurred after IBIT surpassed GBTC to become the largest bitcoin ETF in terms of net assets under management on Tuesday.

Fidelity’s FBTC, the third-largest spot bitcoin ETF, followed IBIT with net inflows of $18 million. Bitwise’s ETF saw $11 million worth of net inflows, while funds from Ark Invest, 21Shares, Invesco, Galaxy Digital, and WisdomTree reported smaller inflows.

In total, the 11 spot bitcoin ETFs observed net inflows exceeding $2 billion over the past 12 days, bringing the cumulative total net inflows since January to $13.76 billion.

Meanwhile, U.S. ETF issuers are preparing for the launch of spot Ethereum ETFs following the Securities and Exchange Commission’s approval of 19b-4 forms for such funds last week. However, these firms must still secure approval for their S-1 forms from regulators before the spot ether funds can commence trading.

The continued influx of funds into spot bitcoin ETFs reflects sustained investor interest in digital assets, particularly bitcoin, as a hedge against inflation and a store of value. As the cryptocurrency market evolves and regulatory frameworks adapt, ETF issuers remain poised to capitalize on growing demand for crypto investment products.