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BlackRock’s iShares Bitcoin Trust (IBIT) Leads with $184 Million Inflows

Arslan Butt•Thursday, September 26, 2024•2 min read

US-listed spot Bitcoin ETFs are continuing their positive momentum, recording a total of $106 million in net inflows on Wednesday. BlackRock’s iShares Bitcoin Trust (IBIT) led the pack, attracting an impressive $184 million, further solidifying its dominance in the crypto investment landscape.

The surge in capital flowing into Bitcoin ETFs underscores renewed investor confidence in the asset class, despite some headwinds in the broader crypto market.

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This marks the fifth consecutive day of inflows for US-listed spot Bitcoin ETFs, reflecting a sustained appetite for cryptocurrency exposure among institutional and retail investors alike.

Other Bitcoin ETFs, such as Bitwise’s Bitcoin ETF (BITB), also saw gains, although smaller, with a $2 million net inflow.

Fidelity’s Bitcoin Fund (FBTC) and ARK Invest ETF See Outflows

While BlackRock’s IBIT and Bitwise’s BITB saw significant investments, not all funds shared this positive momentum. Fidelity’s Bitcoin Fund (FBTC) reported outflows of approximately $33 million, while ARK Invest’s 21Shares Bitcoin ETF (ARKB) lost around $47 million in capital.

Meanwhile, Grayscale’s Bitcoin Trust (GBTC), despite its recent transition to an ETF, saw no new inflows. Since its conversion, GBTC has faced over $20 billion in withdrawals, although the outflows have recently slowed.

The contrast in performance between different ETFs highlights the increasing competition among major players in the crypto investment space, as capital continues to consolidate around a few key products like BlackRock’s IBIT.

Ethereum ETFs Gain $43 Million as SEC Postpones ETH Options Decision

Ethereum spot ETFs have also seen a strong performance this week, with a net inflow of $43.23 million on Thursday.

Grayscale’s Ethereum ETF (ETHE) led with a $26.63 million inflow, while BlackRock’s Ethereum ETF (ETHA) attracted $9.38 million. Fidelity’s FETH saw $6.45 million in new investments.

In parallel, the U.S. Securities and Exchange Commission (SEC) has postponed its decision on options trading for BlackRock’s Ethereum Trust (ETHA), extending the deadline to November 10.

This delay, while not uncommon, highlights the regulatory scrutiny still surrounding crypto ETFs, as the SEC continues to assess market implications.

The growing inflows into both Bitcoin and Ethereum ETFs reflect strong investor demand, driven by expectations of regulatory clarity and future market expansion.

However, the competition among funds and the evolving regulatory landscape continue to shape the dynamics of this fast-growing sector.

Conclusion: Crypto ETFs Continue to Attract Capital Despite Regulatory Uncertainty

As capital flows into Bitcoin and Ethereum ETFs accelerate, BlackRock’s IBIT emerges as a dominant player.

The regulatory outlook remains a critical factor, with the SEC’s decisions on ETH options trading poised to influence the next phase of growth in the crypto ETF space.

Investors will closely watch the unfolding developments to gauge market stability and the long-term potential of these assets.

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ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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