Bitcoin ETF By BlackRock Registers First Daily Net Inflow In 3 Weeks: What To Know
Summary
BlackRock’s iShare Bitcoin Trust (IBIT) recorded its first daily net inflow in three weeks, attracting $15.8 million, contributing to a total net inflow of $12.8 million across US spot Bitcoin ETFs. IBIT was approved by the SEC in January 2024 and has since garnered a cumulative net inflow of $20.9 billion. Other ETFs like Fidelity’s FBTC and Franklin Templeton’s EZBC also saw inflows, while Grayscale’s GBTC faced a net outflow of $20.8 million, attributed to its high fee of 1.5%. In contrast, spot Ethereum ETFs experienced a combined net outflow of $9.4 million, with Grayscale’s ETHE leading the losses. Ethereum trades at $2,307, reflecting its underperformance compared to Bitcoin.
