Crypto News– BlackRock’s iShares Bitcoin Trust exchange-traded fund (ETF) has entered the top 0.16% of all ETF products issued in the United States.
BlackRock Bitcoin ETF Ranks Among the Top 0.2% of All ETFs Year-to-Date
As of February 5th, the spot Bitcoin ETF has attracted over $3.19 billion in inflows, as reported by senior Bloomberg ETF analyst Eric Balchunas. This places it behind only broad index funds tracking the S&P 500 and Vanguard’s Total Stock Market ETF. According to data from YCharts, BlackRock’s ETF flows position it within the top 0.16% when compared against the 3,109 ETFs currently trading in the United States.
Balchunas arrived at a slightly different figure of 0.02%, which appears to measure BlackRock’s ETF performance against an estimated 10,000 ETFs worldwide.
Fidelity’s Bitcoin Fund also stands out as a top performer, with inflows totaling $2.51 billion, placing it eighth among U.S.-based ETF products.
Both BlackRock and Fidelity Bitcoin ETFs continue to ascend in the rankings, having held eighth and tenth positions, respectively, at the end of January.
It’s noteworthy that while the total flows of other U.S. ETFs are calculated from January 1, 2024, spot Bitcoin ETF products were only approved for trading on January 11. This translates to a seven-trading-day handicap for Bitcoin ETFs compared to all other products.
The reduction in outflows from Grayscale persists
Meanwhile, the Grayscale Bitcoin Trust (GBTC), which recently transitioned into a spot Bitcoin ETF, marked its sixth consecutive day of decreasing outflows, amounting to $73 million on February 6th, as reported by BitMEX Research and Bloomberg ETF analyst James Seyffart.
Inflows from other Bitcoin ETF issuers have been consistently surpassing outflows from Grayscale’s GBTC for at least seven consecutive days now. The latest figure represents an 88% decrease from GBTC’s highest outflow day on January 22nd, when $640 million exited the newly converted ETF.
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