BlackRock’s IBIT Drives Bitcoin ETF Growth Amid Market Outflows: A $32.3 Million Net Inflow

In a recent report by COINOTAG on November 1, data from Farside Investors revealed significant trends in the cryptocurrency investment landscape. Notably, amidst substantial net outflows from various Bitcoin spot ETFs, BlackRock’s IBIT emerged as a beacon of resilience, demonstrating a remarkable net inflow of USD 32.3 million for the day. In stark contrast, prominent ETFs such as ARK’s ARKB, Fidelity’s FBTC, and Grayscale’s GBTC recorded notable net outflows of USD 94.2 million, USD 75.2 million, and USD 31.1 million respectively. Furthermore, the Ethereum ETF landscape mirrored this trend, with BlackRock’s ETHA registering an impressive net inflow of USD 49.6 million, despite Grayscale’s ETHE suffering a net outflow of USD 36.6 million. These dynamics underscore the shifting investor sentiment within the crypto market, highlighting the increasing preference for specific institutional products.