US Bitcoin ETFs secure 5-day inflow streak as BlackRock rakes in $184 million

Key Takeaways

• BlackRock's iShares Bitcoin Trust led with $184 million in inflows.
• Total net inflows for US Bitcoin ETFs have reached $246 million so far this week.

US-listed spot Bitcoin exchange-traded funds (ETFs) have notched their fifth consecutive day of positive performance, collectively taking in approximately $106 million on Wednesday. BlackRock’s iShares Bitcoin Trust (IBIT) led with around $184 million in net inflows, according to data tracked by Farside Investors.

Source: Farside Investors

On Wednesday, Bitwise’s Bitcoin ETF (BITB) added around $2 million in new capital. In contrast, Fidelity’s Bitcoin Fund (FBTC) and ARK Invest/21Shares’s Bitcoin ETF (ARKB) faced outflows of approximately $33 million and $47 million, respectively.

Other competing Bitcoin ETFs, including the Grayscale Bitcoin Trust (GBTC), saw zero flows.

Since GBTC was converted into an ETF, investors have withdrawn over $20 billion from the fund. However, massive outflows, which were observed after the conversion, have subsided in recent weeks.

As GBTC’s outflow slows down and capital flows to other funds, especially BlackRock’s IBIT, the group of US spot Bitcoin funds has experienced sustained inflows for five consecutive trading days. These ETFs have attracted about $ 246 million in net inflows so far this week.