Important Insights
- BlackRock’s iShares Bitcoin Trust saw $184 million in new inflows.
- This week, total net inflows for US Bitcoin ETFs have reached $246 million.
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US-listed spot Bitcoin exchange-traded funds (ETFs) have achieved their fifth consecutive day of positive performance, garnering around $106 million on Wednesday. Notably, BlackRock’s iShares Bitcoin Trust (IBIT) led the charge with approximately $184 million in net inflows, according to data from Farside Investors.
On the same day, Bitwise’s Bitcoin ETF (BITB) contributed an additional $2 million in new capital. Conversely, Fidelity’s Bitcoin Fund (FBTC) and ARK Invest/21Shares’s Bitcoin ETF (ARKB) experienced outflows of approximately $33 million and $47 million, respectively.
Other Bitcoin ETFs, including the Grayscale Bitcoin Trust (GBTC), reported no flows.
Since the conversion of GBTC into an ETF, over $20 billion has been withdrawn from the fund. However, substantial outflows witnessed post-conversion have tapered off in recent weeks.
As the outflows from GBTC slow and capital shifts towards other funds, particularly BlackRock’s IBIT, US spot Bitcoin funds have seen a steady influx for five consecutive trading days. These ETFs have accumulated approximately $246 million in net inflows this week.
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