BlackRock’s spot Bitcoin exchange-traded fund ($IBIT) recorded its third-largest inflow, at $272 million, on the seventh day of live trading, according to data published by Bloomberg ETF analyst James Seyffart.
The ETF had previously posted its largest inflow so far on day two of live trading at $386 million. Its second-highest inflow was recorded two days after the first, at $371.4 million.
Since its launch on Thursday, January 11, 2024, BlackRock’s spot Bitcoin ETF has demonstrated substantial trading volumes, emerging as the top-performing ETF among recently approved ones. It was the first of the new spot Bitcoin ETFs to surpass $1 billion in assets under management (AUM).
Meanwhile, the collective assets under management for all recently deployed ETF issuers approached $19 billion on the seventh day of trading. Fidelity’s Wise Origin Bitcoin Fund closely follows BlackRock’s iShares and is the second to surpass the $1 billion AUM threshold. The ETF also reported $158.7 million in net flows over the seven-day trading period.
Following $IBIT and $FBTC are Bitwise Bitcoin ETF ($BITB), Ark 21 Shares Bitcoin ETF ($ARKB), and Invesco Galaxy Bitcoin Fund ($BITD) with net flows of $41.6 million, $65.0 million, and $5.6 million, respectively. These three issuers also reported substantial assets under management of $448.8 billion, $428.4 billion, and $254.3 billion on their seventh day of trading.
While BlackRock’s iShares Bitcoin Trust stands out as a top performer, Grayscale Bitcoin Trust Shares (GBTC), which has the highest assets under management at $10.09 billion, faced challenges.
Seyffart also reported that GBTC saw a significant outflow of $640.5 million in investment on the seventh day of its trading. This adds up to $3.4 billion in outflows for the ETF in the past seven days. When the live trading resumed on January 12, 2024, the ETF recorded a substantial outflow of over $1.1 billion within the first three days of trading.
Update: BlackRock’s numbers are in for the #Bitcoin ETF Cointucky derby. Third biggest inflow day for $IBIT yet at $272 million. Only -$76 million in net outflows for the day. https://t.co/ySE0edbz4c pic.twitter.com/RzgH6qn5Md
— James Seyffart (@JSeyff) January 23, 2024
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