Summary
BlackRock’s iShares Bitcoin Trust (IBIT) saw its largest net inflow day on Tuesday, bringing in $493 million. This broke the fund’s previous record of $386 million on its second day. With these inflows, IBIT now has nearly $5.2 billion in assets under management. Despite being the largest spot bitcoin ETF, Grayscale Investments’ Bitcoin Trust ETF (GBTC) has seen net outflows every day since converting to an ETF on Jan. 11. However, the other nine US spot bitcoin ETFs have more than offset GBTC’s outflows, with total net inflows of nearly $3.8 billion. The segment saw $631 million of net inflows on Tuesday, second only to its first day. Fidelity Investments’ Wise Origin Bitcoin Fund (FBTC) is also growing rapidly, approaching $4 billion in assets under management. Industry experts expect further growth in the sector when these ETFs are added to national account platforms.
Key Points
1. BlackRock’s iShares Bitcoin Trust (IBIT) experienced its largest net inflow day, bringing in $493 million, surpassing its previous high of $386 million.
2. IBIT now has nearly $5.2 billion in assets under management, making it one of the largest ETFs in the market.
3. The Grayscale Investments’ Bitcoin Trust ETF (GBTC) remains the largest spot bitcoin ETF with $22.8 billion in assets, but has seen net outflows since converting to an ETF on Jan. 11.