Bitcoin ETF

Spot

James

<div class="intro-text">
 BlackRock’s spot Bitcoin exchange-traded fund ($IBIT) recorded its third-largest inflow, at $272 million, on the seventh day of live trading, according to data <a style="color: #0000ff;" href="https://twitter.com/JSeyff/status/1749655808638419361?t=ZnHAcpqwHI3BxXi2W_hiKA&amp;s=19" rel="noopener noreferrer nofollow">published</a> by Bloomberg ETF analyst James Seyffart.&nbsp;
</div>
The ETF had previously posted its <a href="https://x.com/ericbalchunas/status/1748326515312341171?s=46" rel="noopener noreferrer nofollow">largest inflow so far on day two </a>of live trading at $386 million. Its second-highest inflow was recorded two days after the first, at $371.4 million.
Since its launch on Thursday, January 11, 2024, BlackRock’s spot Bitcoin ETF has demonstrated substantial trading volumes, emerging as the top-performing ETF among recently approved ones. It was<a style="color: #0000ff;" href="https://defi-planet.com/2024/01/blackrocks-ishares-bitcoin-etf-becomes-first-to-reach-99-bitcoin-holding-and-1-billion-aum/" rel="noopener noreferrer nofollow"> the first of the new spot Bitcoin ETFs to surpass $1 billion in assets under management (AUM).</a>
Meanwhile, the collective assets under management for all recently deployed ETF issuers approached $19 billion on the seventh day of trading. Fidelity’s Wise Origin Bitcoin Fund closely follows BlackRock’s iShares and is the <a style="color: #0000ff;" href="https://defi-planet.com/2024/01/fidelitys-bitcoin-etf-crosses-1-billion-aum-following-blackrocks-lead/" rel="noopener noreferrer nofollow">second to surpass the $1 billion AUM threshold</a>. The ETF also reported $158.7 million in net flows over the seven-day trading period.
Following $IBIT and $FBTC are Bitwise Bitcoin ETF ($BITB), Ark 21 Shares Bitcoin ETF ($ARKB), and Invesco Galaxy Bitcoin Fund ($BITD) with net flows of $41.6 million, $65.0 million, and $5.6 million, respectively. These three issuers also reported substantial assets under management of $448.8 billion, $428.4 billion, and $254.3 billion on their seventh day of trading.
While BlackRock’s iShares Bitcoin Trust stands out as a top performer, Grayscale Bitcoin Trust Shares (GBTC), which has the highest assets under management at $10.09 billion, faced challenges.&nbsp;
Seyffart also <a style="color: #0000ff;" href="https://x.com/JSeyff/status/1749634659145630055?s=20" rel="noopener noreferrer nofollow">reported</a> that GBTC saw a significant outflow of $640.5 million in investment on the seventh day of its trading. This adds up to $3.4 billion in outflows for the ETF in the past seven days. When the live trading resumed on January 12, 2024, the ETF recorded&nbsp; <a style="color: #0000ff;" href="https://defi-planet.com/2024/01/grayscales-gbtc-records-1-1-billion-exodus-following-discount-drop/" rel="noopener noreferrer nofollow">a substantial outflow of over $1.1 billion within the first three days of trading</a>.
<blockquote class="twitter-tweet">
 Update: BlackRock’s numbers are in for the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> ETF Cointucky derby. Third biggest inflow day for <a href="https://twitter.com/search?q=%24IBIT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$IBIT</a> yet at $272 million. Only -$76 million in net outflows for the day. <a href="https://t.co/ySE0edbz4c" rel="noopener noreferrer nofollow">https://t.co/ySE0edbz4c</a> <a href="https://t.co/RzgH6qn5Md" rel="noopener noreferrer nofollow">pic.twitter.com/RzgH6qn5Md</a>
 — James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1749655808638419361?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">January 23, 2024</a>
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The post <a rel="noopener noreferrer nofollow" href="https://defi-planet.com/2024/01/spot-bitcoin-etf-update-blackrocks-ibit-dominates-inflows-gbtc-faces-3-4-billion-outflows-in-a-week/">Spot Bitcoin ETF Update: BlackRock’s $IBIT Dominates Inflows, GBTC Faces $3.4 Billion Outflows in a Week</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://defi-planet.com">DeFi Planet</a>.

Spot Bitcoin ETF Update: BlackRock’s $IBIT Dominates Inflows, GBTC Faces $3.4 Billion Outflows in a Week

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