US Bitcoin ETFs Expand Inflows as BlackRock Raises $75M

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U.S. spot Bitcoin exchange-traded funds (ETFs) secured their sixth straight day of positive performance after collectively cashing in about $65 million on Thursday. BlackRock’s iShares Bitcoin Trust (IBIT) led the way with about $75 million in new capital, Farside Investors data shows.

Fidelity’s Bitcoin Fund ( FBTC ) added about $9 million in net inflows, followed by ARK Invest/21Shares’ Bitcoin ETF ( ARKB ), which attracted nearly $8 million in new investment, the data showed.

Other gains were also seen in WisdomTree’s Bitcoin Fund ( BTCW ), Grayscale’s Bitcoin Mini Trust ( BTC ), and VanEck’s Bitcoin ETF ( HODL ), together pulling in more than $12 million.

In contrast, Grayscale’s Bitcoin Trust (GBTC), which charges the highest management fees among US spot Bitcoin products, saw inflows of more than $28 million on Thursday. Since the fund was converted to an ETF, investors have withdrawn nearly $20 billion from GBTC.

However, the massive outflows have eased in the past two weeks. The withdrawal of GBTC hit a low of almost $10 million yesterday, the smallest outflow of the month.

With GBTC outflows slowing and capital steady in other competing Bitcoin ETFs, mainly BlackRock’s IBIT, the group of US Bitcoin spot funds saw sustained inflows for six consecutive trading days. These ETFs have seen net inflows of more than $250 million so far this week.

BlackRock’s Bitcoin Reserve Exceeds 350,000 BTC

BlackRock’s aggressive purchase of Bitcoin has escalated its total holdings to more than 350,000 BTC, according to data from the IBIT website. The achievement positions the fund as the third largest holder worldwide, just behind Satoshi Nakamoto and Binance.

BlackRock’s IBIT has attracted huge institutional interest from major firms such as 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 about $238 million in IBIT.

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