US Bitcoin ETFs snap 8-day winning streak as BlackRock sees net inflows of $224M

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U.S. exchange-traded funds (ETFs) that invest directly in Bitcoin (BTC) posted eight straight days of net subscriptions, pulling in about $202 million on Monday, data from Farside Investors showed. BlackRock’s iShares Bitcoin Trust (IBIT) outperformed its peers by about $224 million.

Franklin Templeton’s Bitcoin ETF ( EZBC ) and WisdomTree’s Bitcoin Fund ( BTCW ) also saw net inflows at Monday’s close, each capturing about $5 million.

In contrast, competing funds managed by Fidelity, Bitwise and VanEck reported negative flows. The rest had zero investments.

Seven months after their landmark debut, the first US spot Bitcoin ETFs have seen both inflows and outflows stabilize compared to their initial trading period.

Grayscale Bitcoin Trust (GBTC), which has historically been associated with massive outflows, has seen a drop in redemptions over the past two weeks, according to Farside data.

IBIT has consolidated its dominance in the Bitcoin ETF market with its consistent performance. The fund’s Bitcoin reserve has exceeded 350,000 BTC, according to the latest update.

BlackRock’s confidence in Bitcoin ETFs grows with investor appetite. The major asset manager recently reported that Strategic Global Bond Fund added 4,000 shares of IBIT taking its total holdings to 16,000 shares as of June 30th.

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