Bitcoin ETF

Grayscale Bitcoin Trust

BlackRock

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 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 in<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> of $4.8 billion.
 The BlackRock iShares Bitcoin Trust (IBIT) ETF ranked eighth with around $2.6 billion in net in<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> while Fidelity’s Wise Origin Bitcoin ETF (FBTC) ranked tenth with $2.2 billion in in<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a>.
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Two spot bitcoin ETFs among top 10 of *all* ETF inflows in January…
 Never thought I'd see the day.
 via @MorningstarInc pic.twitter.com/o7L5CEu5Ef
 — Nate Geraci (@NateGeraci) February 3, 2024
 </blockquote>
 
 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 says the Wall Street giants are contending in a “two-horse race.”
 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.
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Bitcoin Spot ETF Flow data
 Up to 2nd Feb 2024 pic.twitter.com/gN2GKLedxn
 — BitMEX Research (@BitMEXResearch) February 3, 2024
 </blockquote>
 
 Geraci is optimistic that these ETFs will attract more in<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> soon and hit $1 billion.
 <h2 id="grayscale-bitcoin-etf-outflows-hit-5-7-billion-in-january">Grayscale Bitcoin ETF Outflows Hit $5.7 Billion in January</h2>
 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.
 Grayscale has posted consistent out<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> since its GBTC ETF started trading on January 11. However, the out<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> are easing because with only $145 million exiting on February 2, its second lowest since the second day of trading.
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Grayscale's $GBTC Bitcoin out<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> are consistently decreasing.
 Today this ETF saw an outflow of -$145M, the lowest figure since day 2 of launch.
 The outflow of -$145M is already lower than Blackrock's $IBIT brought in yesterday (+$164M).
 Most people who would have wanted… pic.twitter.com/zzSwebscAW
 — Sinz 🗝️⚡ Bitguide (@Sinz_Bitguide) February 3, 2024
 </blockquote>
 
 Bloomberg ETF analyst Eric Balchunas said&nbsp;that the ETFs have recovered from the January 22-25 outflow mayhem, indicating the products will continue amassing interest.
 <h3 id="also-read">Also Read:</h3>
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 <li>Bitcoin On-Chain Volume Surged In January, Reaching Highest Level Since September 2022</li>
 <li>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</li>
 <li>El Salvador’s Bitcoin-Friendly President Nayib Bukele Heads For Re-Election</li>
 </ul>
 Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/blackrock-and-fidelity-bitcoin-etfs-rocket-into-top-ten-attracting-4-8-billion-inflows-in-first-month-tbt78942.html">https://thebittimes.com/blackrock-and-fidelity-bitcoin-etfs-rocket-into-top-ten-attracting-4-8-billion-inflows-in-first-month-tbt78942.html</a>
</div>

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

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