BlackRock’s IBIT vs Grayscale’s GBTC
BlackRock’s IBIT saw a net inflow of $260.60 million on its seventh day of trading, while Grayscale’s GBTC experienced a substantial net outflow of $640.50 million. This brings the total net outflow for GBTC to $3.4 billion, significantly impacting its inflow metric. BlackRock and Fidelity’s combined inflow of $3.13 billion offsets over 90% of GBTC’s total outflows.
Data for Other Bitcoin ETFs
Fidelity Wise’s FBTC had a net inflow of $158.70 million, contributing to an overall positive flow since its launch. ARK 21 Shares (ARKB) attracted an inflow of $65 million, Bitwise’s BITB saw a net inflow of $41.60 million, and Franklin Templeton’s EZBC recorded a $4.7 million inflow. Valkyrie’s BRRR had an inflow of $9.7 million, VanEck’s HODL reported a $6.8 million inflow, Invesco Galaxy Bitcoin ETF (BTCO) experienced a lower net inflow of $5.6 million, and WisdomTree ETF, BTCW, witnessed the lowest inflow of $0.4 million.
Hot Take: Spot Bitcoin ETFs Experience Mixed Performance
The performance of Spot Bitcoin ETFs has been mixed since their inception, with significant outflows and declines in NAV being observed recently. BlackRock’s IBIT has emerged as a winner with substantial inflows, while Grayscale’s GBTC continues to experience net outflows. The total inflows for all 12 Spot Bitcoin ETFs amount to $1.09 billion, but the massive outflow from GBTC has affected the overall inflow metric. Despite this, BlackRock and Fidelity’s combined inflow offsets a significant portion of GBTC’s outflows. It remains to be seen how the performance of these ETFs will evolve in the future.
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