BlackRock and Fidelity’s spot bitcoin exchange-traded funds (ETFs) ranked among ETFs with the biggest January inflows, totaling around $4.8 million.
However, BlackRock’s iShares Bitcoin Trust (IBIT) saw estimated net flows of $2.6 billion, reaching eighth place. The Fidelity Wise Origin Bitcoin ETF (FBTC) landed tenth place with $2.2 billion in net flows. This is per a Feb. 3 report from Morningstar’s Lan Anh Tran using data approximated from the issuers’ websites.
The data also showed that Grayscale Bitcoin Trust (GBTC) had the second-highest outflows among ETFs in January, with an estimated $5.7 billion net exiting the fund over the month. “Never thought I’d see the day,” said ETF Store president Nate Geraci in an X post sharing the data.
In a separate X post, Geraci said BlackRock and Fidelity’s funds lead among the nine new Bitcoin funds. He added the ARK Invest and 21 Shares joint ETF, along with Bitwise’s ETF, both under $650 million in assets under management, are developing a “strong middle class.” Geraci predicted they would hit $1 billion in assets “soon.”
BlackRock, Fidelity Boost U.S. Bitcoin ETFs
Morningstar’s report comes as U.S. spot bitcoin ETFs notch six straight days of net positive inflows, nearly $715 million. BlackRock and Fidelity’s funds carried the majority, per BitMEX Research data on X posted online.
Trading days from Jan. 26 to Feb. 2 saw inflows into the nine new spot bitcoin funds surpass the lingering GBTC outflows. Outflows slowed over the week, with the GBTC hitting its second-lowest outflow day on Feb. 2 at $144.6 million.
The six-day inflow run came after four outflow days between Jan. 22 and 25 when GBTC outflows peaked, and $431.8 million net exited the ten ETFs total.
Bloomberg’s Eric Balchunas called it “really something” to see the nine ETFs, minus the GBTC, rebound after that dip. Typically, there’s a slow decline after a big hyped launch. But the net inflows in week three show these ETFs have legs, Balchunas added.
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