Bitcoin ETFs generated $50.5B in cumulative net revenues in their first year.

Almost a year after the US-based space launched Bitcoin exchange-traded funds (ETFs) in January, experts say the currency has seen impressive growth.

More than 500,000 BTC have gone into the 12 funds.

Spot Bitcoin ETFs attract more than 500 thousand BTC

In X's post, Vettel Lunde, head of research at digital assets research firm K33, points out that Spot Bitcoin ETFs currently have 500,925 BTC in total net assets, which is more than $50.5 billion at today's prices.

In particular, it had BlackRock's iShares Bitcoin Trust (IBIT). He achieved this milestone early.. The fund was the fastest in history to surpass $50 billion in assets under management (AUM), achieving the feat in 228 days, beating the previous record of 1,329 days.

However, since the Greyscale Bitcoin Trust has mostly recorded negative inflows, the cumulative net inflows into the 12 US positions Bitcoin ETF took a long time to reach the 500,000 BTC milestone.

Lunde added, “The US ETF has taken over 2.5% of the offering since its launch in January.” According to data from CoinMarketCap, the Bitcoin circulation is currently 19.7 million BTC and the supply cap is 21 million BTC.

Bitcoin ETFs extend the flow of income amid sharp price increases.

The funds have been on a streak of inflows over the past two weeks, with Wednesday marking the 10th straight day of inflows. According to data from Soso Value, the bitcoin ETF that entered the space on Wednesday reached $223 million.

Fidelity's FBTC led revenue with $121.9 million in new investment. GBTC and ARKB recorded earnings of $52.27 and $20.13 respectively. BlackRock IBIT, however, maintained neutral flows.

According to the data, total inflows into 12 US spot BTC ETFs reached $34.58 billion. Growing institutional interest in bitcoin has contributed to continued inflows into spot bitcoin ETFs.

The latest inflows coincided with BTC's rally, which saw the largest cryptocurrency trade above $100k. BTC is trading at $100,879 at press time.