Sep 27, 2024
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1 min. read
US-listed spot Bitcoin ETFs continued their winning streak with $106 million in inflows on Wednesday, marking the fifth straight day of positive momentum. Leading the charge was BlackRock’s iShares Bitcoin Trust (IBIT), which attracted a substantial $184 million in new investments, according to data from Farside Investors.
Other funds saw mixed results. Bitwise’s Bitcoin ETF (BITB) recorded a modest $2 million in inflows, while some ETFs faced significant outflows. Fidelity’s Bitcoin Fund (FBTC) lost $33 million, and ARK Invest’s Bitcoin ETF (ARKB) reported $47 million in withdrawals. Grayscale’s Bitcoin Trust (GBTC), which transitioned to an ETF, continues to struggle with no new inflows and has seen over $20 billion in withdrawals to date.
Despite these outflows, US Bitcoin ETFs as a whole have accumulated around $246 million in net inflows this week, demonstrating consistent investor interest in the cryptocurrency market. With BlackRock's IBIT leading the pack, these funds continue to attract attention as they navigate a dynamic investment landscape.
As the crypto sector remains volatile, these developments highlight growing institutional participation in Bitcoin-focused financial products, with BlackRock solidifying its dominance in the space.
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