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Crypto News – BlackRock’s IBIT Fund Shines with $157.6 Million Inflows Amid Mixed Crypto ETF Trends

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Crypto News - BlackRock’s IBIT Fund Shines with $157.6 Million Inflows Amid Mixed Crypto ETF Trends

Crypto News – BlackRock Leads the Pack: IBIT Fund Sees $157.6 Million Surge, Bitcoin ETFs Thrive

Crypto News – On Thursday, BlackRock’s IBIT fund led the way with a significant $157.6 million in inflows, according to data from SoSoValue. This influx highlights BlackRock’s strong position in the investment space. WisdomTree’s BTCW was the standout performer of the day, drawing in $118.52 million—its highest inflow to date and more than ten times greater than its previous peak. This was followed by Fidelity’s FBTC with net inflows of $65.25 million and Ark Invest and 21Shares’ ARKB with $32.79 million. VanEck’s HODL also reported $3.38 million in net inflows.

Grayscale’s GBTC Fund Experiences Major Outflows

Conversely, Grayscale’s converted GBTC fund faced substantial outflows, totaling $182.94 million on Thursday. Hashdex’s spot bitcoin fund saw a $2.03 million net outflow as well. Despite this, spot bitcoin exchange-traded funds (ETFs) in the U.S. saw $192.56 million in positive flows on Thursday. The total trading volume for spot bitcoin ETFs amounted to $2 billion, an increase from $1.79 billion the previous day. Since their launch in January, the 12 funds have accumulated a total net inflow of $17.43 billion.

Ether ETFs Experience Minimal Net Outflows

In the realm of Ethereum ETFs, the situation was more balanced. Spot Ethereum ETFs in the U.S. saw nearly equal inflows and outflows, resulting in a modest net outflow of $2.87 million. BlackRock’s ETHA reported $11.74 million in net inflows, while Grayscale’s mini trust recorded $5 million in inflows. Bitwise’s ether fund also reported $2.78 million in net inflows. However, these gains were offset by net outflows of $19.83 million from Grayscale’s ETHE and $2.58 million from Fidelity’s Ethereum ETF.

Trading Volume and Total Net Outflows

The total daily trading volume for ether ETFs reached $338.49 million on Thursday. Since their launch on July 23, these funds have accumulated a total net outflow of $390.23 million.

This data underscores a dynamic landscape in cryptocurrency ETFs, with significant movement in both Bitcoin and Ethereum products as investors adjust their portfolios.

For the latest in crypto updates, keep tabs on Crypto Data Space.

Crypto News - BlackRock’s IBIT Fund Shines with $157.6 Million Inflows Amid Mixed Crypto ETF Trends

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