Bloomberg ETF Analyst: The net inflow of funds into the spot Bitcoin ETF market has reached 1.2 billion US dollars

Bloomberg ETF analyst Eric Balchunas said on platform X that despite GBTC experiencing an outflow of $590 million on Friday, the market performance led by "NewbornNine" (referring to the newly launched nine Bitcoin spot ETFs) remains strong. These new ETFs achieved a net inflow of $623 million on the day, setting the third-best record.

 

Among them, BlackRock's IBIT and Fidelity's FBTC both achieved fund inflows of over $200 million, while BTCO and HODL also set their best records so far. Currently, the total net inflow has reached $1.2 billion, and the assets under management (AUM) of new ETFs have grown to $4 billion. In contrast, GBTC's cumulative net outflow has reached $2.8 billion, and new ETFs' share in total assets under management has increased to 14%.

 

Analyst Eric Balchunas pointed out that although some believe part of GBTC's fund outflows may have flowed into these new ETFs, in fact most of the fund outflows likely originated from FTX and discount arbitrage traders rather than directly flowing into new products. Moreover, almost perfect correspondence between capital flows and company sizes indicates that this newfound liquidity is more due to market coverage, distribution strategies and active operations.