BlackRock’s Spot Bitcoin ETF Sees First Net Inflows in Three Weeks

BlackRock’s Spot Bitcoin Stock Investment Fund (ETF) (Exchange-traded fund) recorded its first net inflow since August 26 yesterday, after $15.8 million was added to the fund’s reserves.

Prior to yesterday’s net inflow, BlackRock’s IBIT had not had an outflow for 11 consecutive days. It also had net outflows of $13.5 million and $9.1 million on August 29 and September 9, respectively. data Provided by Farside Investors.

BlackRock’s Bitcoin ETF Isn’t the Only Fund to See Net Inflows

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

FBTC recorded net inflows of $5.1 million, EZBC $5 million, and HODL $4.9 million. Investors also poured $2.8 million into Grayscale’s BTC.

Bitcoin ETF Flows (Millions of Dollars) – 2024-09-16

Total net flow: 12.8

Departure: 15.8
FBTC: 5.1
Bit: 0
Arc: 0
Bitcoincoin: 0
EZBC: 5
BRRR: 0
Hodl: 4.9
Bitcoin: 0
GBTC: -20.8
Bitcoin: 2.8

See all data and disclaimers at https://t.co/Wg6Qpn0Pqw

— Farside Investors (@FarsideUK) September 17, 2024

All new US spots released Bitcoin The ETF recorded net inflows of $12.8 million yesterday. Following yesterday’s net inflows, the fund has now recorded net inflows for the third consecutive day.

This comes after US spot Bitcoin ETFs recorded net inflows of $263.2 million on September 13, compared to $39 million the day before.

Grayscale’s Transition Fund Continues to Bleed

Yesterday’s total inflows were eclipsed by $20.8 million outflows from Grayscale’s GBTC fund. GBTC broke its negative flow streak on September 13 with a surprising $6.7 million net inflow, but the fund has lost more than $20 billion since it was converted to a spot Bitcoin ETF in January of this year.

Meanwhile, BlackRock’s IBIT has been the most preferred choice for spot Bitcoin ETF investors, raising over $20.9 billion since its launch.

Fidelity’s FBTC ranked second with $9.647 billion in total inflows, while funds from Ark and 21Shares ranked third with more than $2.35 billion in reserves.

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