BlackRock and Fidelity’s Spot Bitcoin Exchange Traded Fund (ETF) ranked among the ETFs with the highest flows in January, totaling about $4.8 billion.
BlackRock’s iShares Bitcoin Trust (IBIT) ranks 8th with an estimated net flow of $2.6 billion, while Fidelity Wise Origin Bitcoin ETF (FBTC) ranks 10th with a net flow of $2.2 billion. Ta. according to Based on a Feb. 3 report by Morningstar Research Analyst Lan Anh Tran using data approximated from the publisher’s website.
There are over 3,100 ETFs operating in the United States as of December 31, 2023. according to Convert data from YCharts.
The data also shows that Grayscale Bitcoin Trust (GBTC) had the second-highest outflows among ETFs in January, with an estimated $5.7 billion net outflows from the fund in the month. Ta.
“I never thought that day would come,” Nate Geraci, president of investment advisory firm ETF Store, wrote in an X post sharing the data.
Two Spot Bitcoin ETFs are in the top 10 of *all* ETF inflows in January…
I never thought that day would come.
via @Morning star pic.twitter.com/o7L5CEu5Ef
— Nate Geraci (@NateGeraci) February 3, 2024
with another X postDjerassi said that among the nine new Bitcoin (BTC) funds, BlackRock and Fidelity funds are the “obvious two-horse race.”
He added that the ARK Invest and 21Shares joint ETF and Bitwise, both with just under $650 million in assets under management, are developing into a “strong middle class,” adding that “we will reach $1 billion in assets in the not too distant future.” He predicted that it would reach . future. “
Morningstar’s report comes as U.S. Spot Bitcoin ETFs record six consecutive days of net inflows totaling nearly $715 million, according to data posted to X on February 3 by BitMEX Research. However, most of the funds were managed by BlackRock and Fidelity funds.
Related: Bitcoin ETF hype stalls due to due diligence — Bloomberg
For the trading days from January 26th to February 2nd, inflows to nine new spot Bitcoin funds exceeded outflows from the extended GBTC for the week, and the ETF’s outflow date was February 2nd. It was the second lowest day of the year with $144.6 million.
Bitcoin Spot ETF Flow Data
Until February 2, 2024 pic.twitter.com/gN2GKLedxn
— BitMEX Research (@BitMEXResearch) February 3, 2024
After four consecutive days of outflows from January 22nd to January 25th, when GBTC outflows peaked, six consecutive days of inflows occurred, with a net total of $431.8 million from 10 ETFs. leaked out.
Eric Balchunas, senior ETF analyst at Bloomberg, wrote in X magazine on February 3: post Apart from GBTC, nine ETFs said the “recovery from last week’s drop” was “really something to see.”
“Normally, [a] then slowly declines [a] He added that the “highly-hyped launch” and net inflows into the fund in its third week of trading “demonstrates that these ETFs have legs.”
X Hall of Fire: Expecting “record-breaking” with Bitcoin ETF: Brett Harrison (former FTX US)
