BlackRock's BTC ETF Attracts Massive Inflows: Sets New Record with 69 Consecutive Days of Inflows
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BlackRock's BTC ETF Attracts Massive Inflows: Sets New Record with 69 Consecutive Days of Inflows
The other 8 ETFs had zero inflows for over 8 days in April.
Navigating Web3 tides with focused insightsSource: bitcoinist
Compiled by: Blockchain Knight
There is a clear trend of capital inflows into the BTC ETF market, led by BlackRock's iShares IBIT.
Since gaining SEC approval on January 10, the ETF market has undergone more than three months of trading.
BlackRock stands out prominently, impressively achieving 69 consecutive days of inflows and approaching a new record.
Bloomberg ETF expert Eric Balchunas highlighted growing investor interest in BlackRock’s BTC ETF and broader adoption of this largest crypto asset.
BlackRock’s iShares Bitcoin Trust ETF has attracted capital inflows for 69 consecutive days, drawing ever closer to setting a new milestone.
Balchunas noted that just one additional day of inflows would place this ETF among the top ten, tying with the JETS airline ETF.
In terms of inflow data, IBIT averaged $223.4 million in daily inflows during April trading sessions.
According to Farside data, the ETF saw a peak inflow of $849 million and a minimum inflow of $18 million.
In comparison, Fidelity’s FBTC ETF ranks second, averaging $118 million in inflows during April, with a maximum inflow of $473 million.
However, it is worth noting that Fidelity’s ETF recorded zero inflows on three days in April (April 12, 15, and 17).
Meanwhile, the other eight ETFs experienced zero inflows for over eight days in April, highlighting strong investor preference for BlackRock and Fidelity’s BTC ETFs.
In contrast, Grayscale’s BTC Trust (GBTC) has suffered significant outflows over the past three months, losing nearly 300,000 BTC.
In April alone, GBTC saw total outflows exceeding $1.6 billion. Conversely, BlackRock’s BTC ETF gained a comparable amount of BTC inflows during the same period.
Given these developments, Grayscale appears to be taking action to improve performance and attract inflows into its assets under management (AuM).
Grayscale revealed plans to launch a new spin-off version of its GBTC fund—the “mini BTC ETF”—with fees drastically reduced to 0.15%. According to Grayscale’s latest filing, this fee is expected to be the lowest among all spot BTC ETFs.
This move can be seen as a strategic response to recent challenges faced by Grayscale, including lackluster inflows into its flagship product due to its current high fee of 1.5%.
With the upcoming launch of the Bitcoin Mini Trust, Grayscale hopes to regain investor favor. The Bitcoin Mini Trust will carry a highly competitive fee of 0.15%.
Currently, Franklin’s BTC ETF (EZBC) holds the title of lowest-cost BTC ETF at 0.19%.
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