Bitcoin ETFs See $2.7 Billion Inflows Despite GBTC Outflows
Crypto News – In a surprising turn of events, Bitcoin exchange-traded funds (ETFs) have seen a significant influx of funds totaling $2.7 billion, despite Grayscale Bitcoin Trust (GBTC) experiencing notable outflows.
Data compiled by Farside Investors reveals a particularly robust surge in net inflows on February 9th, reaching a staggering $542 million. Notably, BlackRock IBIT led the charge, contributing nearly half of these inflows with an impressive $251 million. This boosted their total net inflow to an impressive $3.8 billion, while also expanding their Bitcoin holdings to 87,779, according to Ishares.com.
The momentum continued from the prior day, February 8th, which saw over $400 million in net inflows, as reported by CryptoSlate.
Fidelity FBTC also reached a significant milestone, surpassing $3 billion in net inflows with an additional $188 million on February 9th. Meanwhile, Ark Invest’s ARKB wasn’t far behind, securing net inflows of $137 million on the same day, bringing their total net inflows close to $1 billion at $919 million, according to Farside Investors’ data.
In stark contrast, GBTC faced net outflows totaling -$52 million, bringing their total to a considerable -$6.4 billion. Nevertheless, the overall net inflows into Bitcoin ETFs remained strong at $2.7 billion, as outlined by Farside Investors.
Despite GBTC’s struggles, the broader trend showcases growing investor interest and confidence in Bitcoin ETFs, with significant capital inflows driving positive momentum across various funds.
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