Summary
According to initial data from Bloomberg Intelligence, the spot bitcoin ETFs by Bitwise and Fidelity had higher day-one inflows compared to their competitors. Bitwise and Fidelity saw net inflows of $238 million and $227 million, respectively, while BlackRock’s iShares Bitcoin Trust had net inflows of $112 million. Grayscale Investments’ Bitcoin Trust ETF, on the other hand, saw net outflows of roughly $95 million. The data suggests that much of the day-one trading activity in bitcoin ETFs was short-term in nature, but industry watchers expect more substantial inflows in the coming weeks or months.
Key Points
1. Bitwise and Fidelity’s spot bitcoin ETFs had higher day-one inflows compared to their competitors, with net inflows of $238 million and $227 million, respectively.
2. BlackRock’s iShares Bitcoin Trust (IBIT) had net inflows of $112 million, while Grayscale Investments’ Bitcoin Trust ETF (GBTC) saw net outflows of roughly $95 million.
3. The day-one trading activity in bitcoin ETFs was largely short-term in nature, and industry experts expect to see more substantial inflows in the coming weeks or months.