BlackRock’s Bitcoin ETF crosses $2 billion in inflows, with Fidelity close behind
BlackRock’s Bitcoin ETF crosses $2 billion in inflows, with Fidelity close behind James Van Straten · 12 months ago Insights Crypto EquitiesETFsGBTC Grayscale GBTC, experiences lowest outflow since Day 1 at $394 million, continues to exhibit a consistent outflow trend, according to BitMEX research.Quick TakeAs the dust settles on the tenth trading day in the Bitcoin Spot Exchange-Traded Fund (ETF) sector, a fund flow trend has begun to emerge. Day 10 witnessed an $80 million net outflow, according to BitMEX research, significantly impacting the overall landscape.ETF Flows USD: (Source: BitMEX Research)Grayscale GBTC, despite experiencing the lowest outflow since Day 1 at $394 million, continues to exhibit a consistent outflow trend, according to BitMEX research.This trend is in sharp contrast to BlackRock’s IBIT Bitcoin ETF, which saw inflows jump to $170 million, a marked increase from the Jan. 24 inflow of $66 million. This surge solidifies BlackRock’s position, pushing their total inflow over the $2 billion threshold, a first among ETF providers, according to BitMEX research.Meanwhile, Fidelity’s FBTC enjoyed another strong day, pulling in just over $100 million, thereby raising their total inflow to $1.83 billion. The combined ten-day trading inflows amounted to $744.6 million, predominantly driven by BlackRock and Fidelity’s strong performance, according to BitMEX research.Conversely, Grayscale GBTC saw cumulative outflows reach $4.78 billion. In terms of Bitcoin accumulation, BlackRock and Fidelity lead with approximately 50,000 BTC and 43,538 BTC, respectively, while Grayscale experienced outflows of 116,000 BTC, according to BitMEX research.ETF Flows BTC: (Source: BitMEX Research)The total Bitcoin held by the nine new ETFs now stands at approximately 131,340.Latest Insights