BlackRock and Fidelity Bitcoin ETFs reached the top 10 in January flows
BlackRock and Fidelity Spot Bitcoin (BTC) exchange-traded funds (ETFs) were among the ETFs with the largest January inflows, bringing the total to $4.8 billion.
BlackRock's iShares Bitcoin Trust (IBIT) ranked eighth with net inflows of $2.6 billion, while Fidelity Wise Origin Bitcoin ETF (FBTC) ranked tenth with net inflows of $2.2 billion. Lan Anh Tran using estimated data from the issuers' websites.
The data shows that the Greyscale Bitcoin Trust (GBTC) had the second-highest inflows among ETFs in January, with an estimated $5.7 billion withdrawn during the month.
“I never thought I'd see the day,” Nate Gerasi, president of ETF Store, an investment advisory firm, shared the news.
Two of the top 10 Bitcoin ETFs of *all* ETF flows in January…
I never thought I would see the day.
By @MorningstarInc pic.twitter.com/o7L5CEu5Ef
— Nate Geraci (@NateGeraci) February 3, 2024
In a separate X post, Geraci said BlackRock and Fidelity Funds are in a “clear two-horse race” among nine Bitcoin funds.
He said ARK Invest and 21 shares with Bitwise – both with $650 million in assets under management – were growing as a “strong middle class” and “predicted hitting $1 billion in assets in the not-too-distant future.” with. in the future”
Morningstar's report comes as U.S. spot Bitcoin ETFs posted six consecutive days of net positive inflows totaling nearly $715 million, most of which were borne by the BlackRock and Fidelity funds, according to data posted to X on February 3 by BitMEX Research.
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Trading days from Jan. 26 to Feb. 2 flow into nine new positions Bitcoin funds outpace slow outflows from Grayscales, down for the week, GBTC hit an intraday low of $144.6 million on Feb. 2. .
Bitcoin Spot ETF flow data
Until February 2, 2024 pic.twitter.com/gN2GKLedxn
— BitMEX Research (@BitMEXResearch) February 3, 2024
The six-day inflows followed a four-day inflow between January 22 and 25, when GBTC outflows peaked and $431.8 million in net outflows from the ten ETFs.
Eric Balchunas, senior ETF analyst at Bloomberg, wrote in a Feb. 3 post that the nine ETFs bar the GBTC bar “then bounce back last week,” which is “really something to watch.”
“It's usually there. [a] Then gradually decrease [a] The net inflows into the funds in their third week of trading “shows these ETFs have legs,” he added.
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