Crypto News– According to insights from Bloomberg senior ETF analyst Eric Balchunas, four Bitcoin exchange-traded funds (ETFs) have quickly climbed to positions among the top 30 largest asset funds within their first 50 days on the market. Among them, BlackRock’s IBIT and Fidelity’s FBTC stand out, being described as ‘in a league of their own’.
These Bitcoin ETFs Rank Among the Top 30 Asset Funds Listed Globally
Furthermore, U.S. spot Bitcoin ETFs are experiencing a resurgence in capital inflows, marking a notable reversal from a series of consecutive net outflows observed over the past week.
Four Bitcoin ETFs Experience Significant Inflows
In a recent post on X, Balchunas highlighted that BlackRock’s IBIT, Fidelity’s FBTC, Ark Invest’s ARKB, and Bitwise’s BITB all managed to break into the top 30 ETF assets globally within their first 50 days of trading.
The data reveals that even Bitwise’s BITB is currently ranked 18th in terms of assets under management, surpassing the world’s largest SPDR Gold Shares (GLD) fund.
Here's a look at Top 30 ranked by assets in first 50 days on market. Went global for this so this is out of 11,338 funds. Four BTC ETFs made the list. $IBIT and $FBTC in league of their own. $BITB > $GLD! pic.twitter.com/V5ENc3boNv
— Eric Balchunas (@EricBalchunas) March 26, 2024
On March 26, Fidelity’s fund experienced its largest daily inflow since March 13, amounting to $279.1 million, which added 4,000 BTC to its holdings. This marked the firm’s second consecutive day of inflows surpassing $260 million.
Meanwhile, BlackRock’s fund received inflows of $162.2 million, which is lower compared to earlier in the month when daily inflows averaged over $300 million.
The Ark 21Shares Bitcoin ETF fund had its best day since March 12, with inflows totaling $73.6 million, while Bitwise’s BITB received inflows totaling $16.7 million.
Additionally, other funds such as Invesco Galaxy, Franklin Templeton, and Valkyrie also witnessed substantial inflows, each exceeding $26 million.
Continued Outflows from Grayscale
According to data from Farside Investors, the ten approved spot Bitcoin ETFs collectively experienced a significant net inflow of $418 million on March 26.
In contrast, Grayscale’s Bitcoin Trust (GBTC) continued to see negative flows, with daily outflows reaching $212 million. However, the net inflows from its competitors surpassed GBTC’s outflows.
Since transitioning to an ETF on January 11, Grayscale has witnessed substantial outflows totaling 277,393 BTC, approximately $19.5 billion at current market prices.
Meanwhile, Bitcoin has maintained stability around the $70,000 mark amidst news that the London Stock Exchange plans to introduce Exchange-Traded Notes (ETNs) for BTC and ETH in May. This decision comes after the exchange’s earlier announcement regarding accepting applications for crypto ETNs in the second quarter of the year.
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