- According to data compiled by BitMEX Research, net fund inflows into spot Bitcoin ETFs reached $33.1 million at the close of the sixth trading day.
- Financial services giant Fidelity’s Wise Origin Bitcoin Trust (FBTC) accounted for a significant portion of the $222.3 million influx.
- Nine spot Bitcoin ETFs operated by Grayscale, Fidelity, and Bitwise have collectively purchased a total of 79,618 Bitcoins (BTC) since their launches.
As the Bitcoin price stabilizes, attention is drawn to the fund inflow performance of spot Bitcoin ETFs: Latest data!
Performance of Fund Inflows in Spot Bitcoin ETFs
The first wave of exchange-traded funds (ETFs) tracking Bitcoin is witnessing strong investor interest. According to data compiled by BitMEX Research, net fund inflows into spot Bitcoin ETFs reached $33.1 million at the close of the sixth trading day.
Financial services giant Fidelity’s Wise Origin Bitcoin Trust (FBTC) constituted a significant portion of the $222.3 million influx. It was followed by BlackRock’s iShares Bitcoin Trust (IBIT) ETF, with investments worth $201.5 million.
Meanwhile, investors allocated $63.4 million to Invesco Galaxy Bitcoin ETF (BTCO), $62.6 million to Ark 21Shares Bitcoin ETF (ARKB), $56.7 million to Bitwise Bitcoin ETF (BITB), $14.2 million to VanEck Bitcoin Trust (HODL), and $2.9 million to WisdomTree Bitcoin Fund (BTCW).
While other funds experienced gains, Grayscale Bitcoin Trust (GBTC) continued to witness massive outflows; over $590 million in assets were withdrawn from GBTC on the sixth trading day. Investors are withdrawing partly due to Grayscale’s higher fee structure compared to its competitors.
Fund outflows could also be linked to profit realization in Grayscale’s GBTC, as some investors may be looking to assess the discount to the net asset value of the fund. As reported by COINOTAG earlier, over $2 billion in assets were withdrawn from GBTC converted into a Bitcoin ETF last week.
On the other hand, the nine spot Bitcoin ETFs operated by Grayscale, Fidelity, and Bitwise have collectively purchased a total of 79,618 Bitcoins (BTC) since their launches, which is valued at over $3.2 billion, according to the data.
ETF Issuers Collect 796 More Bitcoins on the 6th Day
Spot Bitcoin ETF issuers collected a net 796.6 more Bitcoins on the sixth trading day; data from BitMEX Research’s Twitter account showed. This means $33 million worth of Bitcoin was added to their portfolios.
It is worth noting that spot Bitcoin ETFs operated by BlackRock, Fidelity, and Bitwise were among the most traded ETFs in the United States last week. Additionally, the asset sizes of Grayscale and Fidelity’s Bitcoin ETFs surpassed $1 billion after just five days of trading.
While the broad impact of Bitcoin ETFs on the crypto market has yet to be seen, many crypto experts already consider them game-changers; Bitcoin advocate and author Vijay Boyapati suggests that ETFs will increase retail investment in Bitcoin.
