Key Takeaways
- BlackRock’s US Bitcoin ETFs gained $75 million in new inflows on August 22.
- US spot Bitcoin ETFs have seen six consecutive days of inflows, totaling over $250 million so far this week.
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US spot Bitcoin exchange-traded funds (ETFs) have secured their sixth consecutive day of positive performance after collectively taking in approximately $65 million on Thursday. BlackRock’s iShares Bitcoin Trust (IBIT) led with around $75 million in new capital, Farside Investors’ data shows.
Fidelity’s Bitcoin fund (FBTC) added around $9 million in net inflows, followed by ARK Invest/21Shares’s Bitcoin ETF (ARKB) which attracted nearly $8 million in new investment, data shows.
Other gains were also seen in WisdomTree’s Bitcoin fund (BTCW), Grayscale’s Bitcoin Mini Trust (BTC), and VanEck’s Bitcoin ETF (HODL), collectively attracting over $12 million.
In contrast, Grayscale’s Bitcoin Trust (GBTC), which charges the highest management fees among US spot Bitcoin products, experienced over $28 million in outflows on Thursday. Since the fund was converted into an ETF, investors have withdrawn nearly $20 billion from GBTC.
However, massive outflows have subsided over the past two weeks. GBTC’s withdrawal hit a low of nearly $10 million yesterday, the month’s lowest outflow.
With GBTC’s outflow slowdown and consistent capital into other competing Bitcoin ETFs, mostly BlackRock’s IBIT, the group of US spot Bitcoin funds has experienced sustained inflows for six consecutive trading days. These ETFs have logged over $250 million in net inflows so far this week.
BlackRock’s Bitcoin stash surpasses 350,000 BTC
BlackRock’s aggressive acquisition of Bitcoin has escalated its total holdings to over 350,000 BTC, according to data from IBIT’s website. The achievement positions the fund as the third-largest holder worldwide, just behind Satoshi Nakamoto and Binance.
BlackRock’s IBIT has drawn huge institutional interest from major firms like Morgan Stanley and Goldman Sachs.
Last week, Morgan Stanley reported its holdings of approximately $187 million in IBIT. The bank is also the first Wall Street giant to allow its financial advisors to recommend Bitcoin ETFs to select clients.
Goldman Sachs also disclosed a substantial investment in US spot Bitcoin ETFs, including around $238 million in IBIT.
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