Bitcoin ETFs See Record Inflows as Price Soars
Bitcoin spot ETFs experienced significant net inflows of $400 million on Thursday, pushing their total inflows since launch above $2 billion for the first time. This surge in inflows coincided with a late-week increase in Bitcoin’s price, which reached $48,000 by Friday.
Inflows Outpace Grayscale
Thursday was the third best day for Bitcoin ETFs in terms of daily flows since their launch. The best performance remains the day of launch, followed by January 17. These figures include flows from the Grayscale Bitcoin Trust (GBTC), which has seen outflows since its conversion into a spot ETF last month.
However, GBTC’s outflows have slowed down recently, while other funds managed by rivals have been net gainers. On Thursday, BlackRock and Fidelity’s funds attracted the most inflows.
BlackRock and Fidelity Dominate
BlackRock and Fidelity received $204.1 million and $128.3 million respectively in inflows, surpassing Grayscale’s volume. Both funds have consistently recorded daily inflows over their first month of activity and have broken records for assets under management.
Additionally, Bitwise and Ark Invest’s Bitcoin ETFs have also made it into the top 25. Analysts predict that new Bitcoin ETFs could surpass $10 billion in total assets by the end of the year.
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