US Bitcoin ETFs snap 5-day streak as BlackRock cashes in $184M

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US-listed Bitcoin exchange-traded funds posted their fifth consecutive day of positive performance, taking in a combined roughly $106 million on Wednesday. BlackRock’s iShares Bitcoin Trust (IBIT) led the way with net inflows of about $184 million, according to data tracked by Farside Investors.

On Wednesday, Bitwise’s Bitcoin ETF (BITB) added around $2 million in new capital. In contrast, Fidelity’s Bitcoin Fund (FBTC) and ARK Invest/21Shares’ Bitcoin ETF (ARKB) experienced outflows of about $33 million and $47 million, respectively.

Other competing Bitcoin ETFs, including Grayscale Bitcoin Trust (GBTC), saw zero flows.

Since GBTC was converted into an ETF, investors have withdrawn over $20 billion from the fund. However, the massive outflows that were seen after the conversion have subsided in recent weeks.

As the flow of GBTC also slows capital flows to other funds, notably BlackRock’s IBIT, the group of US Bitcoin spot funds has seen sustained inflows for five consecutive trading days. These ETFs have attracted about $246 million in net inflows so far this week.

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