BlackRock’s Spot Bitcoin ETF Posts First Net Inflow In More Than 3 Weeks

0
10

Join Our Telegram channel to stay up to date on breaking news coverage

BlackRock’s spot Bitcoin ETF (exchange-traded fund) recorded its first net inflow since Aug. 26 yesterday after $15.8 million was added to the fund’s reserves.

Prior to yesterday’s net inflows, BlackRock’s IBIT suffered 11 consecutive days of zero outflows. It also posted two days of net outflows on Aug. 29 and Sept. 9 of $13.5 million and $9.1 million, respectively, according to data from Farside Investors. 

BlackRock’s Bitcoin ETF Not The Only Fund To Record Net Inflows

Along with IBIT’s net inflows yesterday, Fidelity’s FBTC, Franklin’s EZBC, VanEck’s HODL and Grayscale’s BTC also saw capital enter their reserves yesterday.

FBTC registered $5.1 million in net inflows, EZBC $5 million, and HODL $4.9 million. Investors also pumped $2.8 million into Grayscale’s BTC.

Overall, the newly-launched US spot Bitcoin ETFs recorded $12.8 million in net inflows yesterday. Following yesterday’s net inflows, the funds’ are now on a 3-day positive net flow streak.

This is after the US spot Bitcoin ETFs registered $263.2 million net inflows on Sept. 13, and $39 million net inflows the day before.

Grayscale’s Converted Fund Continues To Bleed

Yesterday’s total inflows were negated by the $20.8 million that left Grayscale’s GBTC fund. Although GBTC was able to break its negative flow streak with a surprising $6.7 million net inflow on Sept. 13, the fund has lost over $20 billion since it was converted to a spot Bitcoin ETF in January this year.

On the other hand, BlackRock’s IBIT has been the preferred choice among spot Bitcoin ETF investors, and has raised more than $20.9 billion since its launch.

Fidelity’s FBTC takes second place with $9.647 billion total inflows. Meanwhile, the fund belonging to Ark and 21Shares comes in at third with its reserves standing above $2.35 billion.

Related Articles:

Most Searched Crypto Launch – Pepe Unchained

Pepe UnchainedPepe Unchained
  • Layer 2 Meme Coin Ecosystem
  • Featured in Cointelegraph
  • SolidProof & Coinsult Audited
  • Staking Rewards – pepeunchained.com
  • $10+ Million Raised at ICO – Ends Soon

Pepe UnchainedPepe Unchained


Join Our Telegram channel to stay up to date on breaking news coverage


Credit: Source link

ads

LEAVE A REPLY

Please enter your comment!
Please enter your name here