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></p>
<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" target="_blank" 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></p>
<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></p>
<p>Bloomberg ETF analyst Eric Balchunas <a href="https://twitter.com/EricBalchunas/status/1753769255516942473" target="_blank" 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>
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BlackRock And Fidelity Bitcoin ETFs Rocket Into Top Ten, Attracting $4.8 Billion Inflows In First Month

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