BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s Wise Origin Bitcoin ETF (FBTC) have recorded significant inflows in January, totaling approximately $4.8 billion.
IBIT received an estimated $2.6 billion in net flows, securing the eighth position, while FBTC ranked tenth with $2.2 billion in net flows. The data is based on a report from Morningstar research analyst Lan Anh Tran, who used information from the issuers’ websites.
As of December 31, 2023, the United States is home to over 3,100 ETFs, according to data from YCharts.
In contrast, the Grayscale Bitcoin Trust (GBTC) experienced the second-highest outflows among ETFs in January, with an estimated $5.7 billion exiting the fund over the month.
Nate Geraci, the president of investment advisory firm ETF Store, commented on the notable performance of BlackRock and Fidelity’s funds, stating that they are in a “clear two-horse race” among the nine new Bitcoin ETFs. He also mentioned that the ETF from ARK Invest and 21 Shares, along with Bitwise’s ETF, are developing as a “strong middle class” and predicted that they would reach $1 billion in assets in the “not too distant future.”
BitMEX Research reported that U.S. spot Bitcoin ETFs had six consecutive days of net positive inflows totaling nearly $715 million, with BlackRock and Fidelity’s funds leading the way. This trend followed a four-day period of outflows when GBTC experienced peak outflows.
Bloomberg senior ETF analyst Eric Balchunas noted that it was impressive to see the nine ETFs, excluding GBTC, make a comeback after a dip, emphasizing their sustained momentum in the market. Typically, there is a gradual decline in interest after a highly anticipated ETF launch, but these funds have demonstrated their resilience and ongoing appeal.
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