Bitcoin ETF

Billion

Grayscale Bitcoin Trust

BlackRock

<p>The spot Bitcoin ETF (exchange-traded) products launched by BlackRock and Fidelity last month ranked among the top ten largest ETFs in the US in January with inflows of $4.8 billion.</p><p>The BlackRock iShares Bitcoin Trust (IBIT) ETF ranked eighth with around $2.6 billion in net inflows while Fidelity’s Wise Origin Bitcoin ETF (FBTC) ranked tenth with $2.2 billion in inflows.</p><blockquote class="twitter-tweet"><p>Two spot bitcoin ETFs among top 10 of *all* ETF inflows in January…</p><p>Never thought I'd see the day.</p><p>via <a href="https://twitter.com/MorningstarInc?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@MorningstarInc</a><a href="https://t.co/o7L5CEu5Ef" rel="noopener noreferrer nofollow">pic.twitter.com/o7L5CEu5Ef</a></p><p>— Nate Geraci (@NateGeraci) <a href="https://twitter.com/NateGeraci/status/1753583272259428783?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 3, 2024</a></p></blockquote><p>The data shows what a roaring success spot Bitcoin ETFs have been such their launch on Jan. 11, as BlackRock and Fidelity dominate over two-thirds of inflows. ETF Store President Nate Geraci <a href="https://twitter.com/NateGeraci/status/1754320485049913798" rel="noopener noreferrer nofollow">says</a> the Wall Street giants are contending in a “two-horse race.”</p><p>Conversely, Bitcoin ETFs offered by crypto-native companies such as ARK Invest and Galaxy Invesco lag in inflows. The ETFs have seen total flows of $683 million and $293 million in January, respectively, according to BitMEX data.</p><blockquote class="twitter-tweet"><p>Bitcoin Spot ETF Flow data</p><p>Up to 2nd Feb 2024 <a href="https://t.co/gN2GKLedxn" rel="noopener noreferrer nofollow">pic.twitter.com/gN2GKLedxn</a></p><p>— BitMEX Research (@BitMEXResearch) <a href="https://twitter.com/BitMEXResearch/status/1753714765136834929?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 3, 2024</a></p></blockquote><p>Geraci is optimistic that these ETFs will attract more inflows soon and hit $1 billion.</p><h2 id="grayscale-bitcoin-etf-outflows-hit-5-7-billion-in-january">Grayscale Bitcoin ETF Outflows Hit $5.7 Billion in January</h2><p>Bitcoin ETF products are also ranking among the largest in terms of outflows. The Grayscale Bitcoin Trust had the second-highest outflows of around $5.7 billion in January. The ETF had the highest single-day outflow of $640 million on Jan. 22.</p><p>Grayscale has posted consistent outflows since its GBTC ETF started trading on January 11. However, the outflows are easing because with only $145 million exiting on February 2, its second lowest since the second day of trading.</p><blockquote class="twitter-tweet"><p>Grayscale's <a href="https://twitter.com/search?q=%24GBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$GBTC</a> Bitcoin outflows are consistently decreasing.</p><p>Today this ETF saw an outflow of -$145M, the lowest figure since day 2 of launch.</p><p>The outflow of -$145M is already lower than Blackrock's <a href="https://twitter.com/search?q=%24IBIT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$IBIT</a> brought in yesterday (+$164M).</p><p>Most people who would have wanted… <a href="https://t.co/zzSwebscAW" rel="noopener noreferrer nofollow">pic.twitter.com/zzSwebscAW</a></p><p>— Sinz 🗝️⚡ Bitguide (@Sinz_Bitguide) <a href="https://twitter.com/Sinz_Bitguide/status/1753591869425238151?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 3, 2024</a></p></blockquote><p>Bloomberg ETF analyst Eric Balchunas <a href="https://twitter.com/EricBalchunas/status/1753769255516942473" rel="noopener noreferrer nofollow">said</a>&nbsp;that the ETFs have recovered from the January 22-25 outflow mayhem, indicating the products will continue amassing interest.</p><h3 id="also-read">Also Read:</h3><ul><li><a href="https://insidebitcoins.com/news/bitcoin-on-chain-volume-surged-in-january-reaching-highest-level-since-september-2022" rel="noopener noreferrer nofollow">Bitcoin On-Chain Volume Surged In January, Reaching Highest Level Since September 2022</a></li><li><a href="https://insidebitcoins.com/news/bitcoin-price-prediction-top-trader-foresees-btc-halving-plunge-to-30k-before-new-ath-in-4q-but-experts-say-this-cloud-mining-presale-might-10x" rel="noopener noreferrer nofollow">Bitcoin Price Prediction: Top Trader Sees BTC Hitting $30K On Halving Before Soaring To New ATH In 4Q As Experts Say This Cloud Mining Presale Might 10X</a></li><li><a href="https://insidebitcoins.com/news/el-salvadors-bitcoin-friendly-president-nayib-bukele-heads-for-re-election" rel="noopener noreferrer nofollow">El Salvador’s Bitcoin-Friendly President Nayib Bukele Heads For Re-Election</a></li></ul><div class="inContentProviderSingle inContentColor--insidebitcoins fc-row"><div class="inContentProviderSingle--wrapper"><div class="container"><div class="row mb-lg-3"><div class="col-12 col-md-8"><p class="inContentProviderSingle--title">New Crypto Mining Platform - Bitcoin Minetrix</p></div><div class="col-12 col-md-4"><div class="inContentProviderSingle--rating"><div class="rating--holder"><p class="rating--text">Rating</p><div class="rating--star-container"><div class="rating--star"></div></div></div></div></div></div><div class="row"><div class="col-12 col-md-12 text-center d-block d-sm-block d-md-none d-lg-none"><img class="inContentProviderSingle--img mb-3" src="https://insidebitcoins.com/wp-content/uploads/2023/09/bitcoin-minetrix.svg" alt="Bitcoin Minetrix" width="125" height="60"></div><div class="col-12 col-md-8"><ul class="inContentProviderSingle--list"><li>Audited By Coinsult</li><li>Decentralized, Secure Cloud Mining</li><li>Earn Free Bitcoin Daily</li><li>Native Token On Presale Now - BTCMTX</li><li>Staking Rewards - Over 50% APY</li></ul></div><div class="col-12 col-md-4 d-none d-sm-none d-md-block d-lg-block"><img class="inContentProviderSingle--img float-right" src="https://insidebitcoins.com/wp-content/uploads/2023/09/bitcoin-minetrix.svg" alt="Bitcoin Minetrix" width="125" height="60"></div></div><div class="row"><div class="col-12 text-center"><div class="inContentProviderSingle--button"><a href="https://insidebitcoins.com/visit/bitcoinminetrix" rel="noopener noreferrer nofollow">Learn More</a></div><div class="inContentProviderSingle--disclaimerText"></div></div></div></div></div></div>

BlackRock And Fidelity Bitcoin ETFs Rocket Into Top Ten, Attracting $4.8 Billion Inflows In First Month

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