Bitcoin ETF

Bitcoin

BlackRock

<div class="cryptonews">
 <p class="is-style-lead">Bitcoin ETFs experienced a net inflow of $38.4 million on Feb. 1, marking the fifth consecutive day of such inflows.&nbsp;</p>
 <p>Grayscale’s Bitcoin Trust ETF (GBTC) also saw a significant net outflow of $182 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a>. In contrast, the collective net <a rel="noopener noreferrer nofollow" title="inflow" href="https://thebittimes.com/tag/inflow.html">inflow</a> for the remaining nine ETFs in the sector, excluding Grayscale, amounted to $220 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a>. BlackRock’s iShares Bitcoin Trust (IBIT) outperformed Grayscale Investments’ GBTC in trading volume. This event marks a first for BlackRock since the introduction of spot Bitcoin ETFs in the U.S. on Jan. 11.</p>
 <p>During the first three weeks following the launch of these trading products, Grayscale’s GBTC had been the frontrunner in trading volumes. GBTC accounted for nearly half of the trading activity of the ten available ETFs, with approximately $14.4 billion of the total $29.3 billion traded.</p>
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    <p lang="en" dir="ltr">Lot of talk about the <a rel="noopener noreferrer nofollow" title="inflow" href="https://thebittimes.com/tag/inflow.html">inflow</a>s to the US spot #Bitcoin ETFs. Including from me but taking a step back and looking at other TradFi overlaps with Bitcoin we see the opposite story. Which i wrote about yesterday. ~$537 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> in outflows from international crypto funds. pic.twitter.com/iNxBtohymA</p>— James Seyffart (@JSeyff) February 2, 2024
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 <p>On Feb. 1st, however, IBIT by BlackRock witnessed trading volumes of $302 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a>, surpassing the $292 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> recorded by GBTC. This shift comes amid Grayscale’s challenges with net outflows, reducing its Bitcoin holdings by 5,086 BTC, equivalent to about $218 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a>.</p>
 <p>Despite Grayscale’s net outflows, the sector has seen robust investment activity. BlackRock’s IBIT and Fidelity’s Wise Origin Bitcoin Fund (FBTC) have attracted significant net inflows, amounting to approximately $2.8 billion and $2.5 billion, respectively, since their introductions to the market.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bitcoin-etf-sees-net-inflow-of-38-4-million-blackrock-outpaces-grayscale-tbt78688.html">https://thebittimes.com/bitcoin-etf-sees-net-inflow-of-38-4-million-blackrock-outpaces-grayscale-tbt78688.html</a></p>

Bitcoin ETF sees net inflow of $38.4 million, BlackRock outpaces Grayscale

TheBitTimes

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