Record Bitcoin ETF inflows are led by BlackRock.

On March 5, the exchange-traded fund (ETF) known as iShares Bitcoin Trust (IBIT) managed by BlackRock experienced inflows of $788 million, and it also established a new daily record by purchasing 12,000 additional Bitcoins.

After Bitcoin's price reached a new all-time high, it appears that the addition came after the cryptocurrency saw a precipitous decline.

According to The Block, which cited data from BitMEX, BlackRock and Fidelity are the two most dominant players in the spot Bitcoin exchange-traded fund (ETF) industry, with combined assets under management (AUM) of more than US$19 billion.

Bitcoin investment products are currently managing more than one million Bitcoins, which is equivalent to around five percent of the asset's total quantity that is currently in circulation.

According to The Block, spots and futures Bitcoin exchange-traded funds (ETFs) in the United States own the bulk of these assets. Europe and Canada are the second and third largest markets, respectively, behind the United States.

This surge of investments into Bitcoin exchange-traded funds (ETFs), notably in the United States,

illustrates the rising acceptability of the cryptocurrency among traditional investors and signals a shift in the role that the cryptocurrency plays in the process of price discovery.

According to the statistics provided by CoinGecko, Bitcoin traded at more than $67,000 at one o'clock Eastern Time (ET), recovering from its decline to approximately $60,000 the previous day.