BlackRock, WisdomTree Bitcoin ETFs dominate daily flows

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BlackRock’s iShares Bitcoin Trust (IBIT) strengthened its market lead on Aug. 8, raising more than $157 million in net capital, according to data from Farside Investors. But the standout performer of the day was WisdomTree’s Bitcoin (BTCW) fund, which saw its biggest single-day flow since launch at more than $118 million.

Since its debut in January, BTCW has struggled to compete with other Bitcoin ETFs, with net capital never exceeding $20 million until Thursday’s surge. The fund’s total inflows now stand at $201 million, though that remains relatively small compared to its competitors.

In addition to IBIT and BTCW, Bitcoin ETFs launched by Fidelity, ARK Invest/21Shares and VanEck also reported inflows. Other ETFs, with the exception of Invesco’s BTCO, saw zero flows.

The strong flows in IBIT and BTCW have effectively offset the massive capital drain from the Grayscale Bitcoin ETF (GBTC). On Thursday, investors pulled about $183 million from the fund, the most since early April.

Overall, U.S. spot Bitcoin exchange-traded funds (ETFs) collectively attracted around $194 million in new investments on Thursday, extending their streak of inflows after bleeding more than $300 million early this week.

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