U.S. spot bitcoin exchange-traded funds noted their ninth consecutive day of positive inflows, amassing $107.9 million on Thursday. Blackrock’s IBIT led the way, securing $89 million, while Grayscale’s bitcoin trust (GBTC) experienced $14 million in outflows.
US Spot Bitcoin ETFs Mark Ninth Day of Inflows, Led by Blackrock’s $89M Gain
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Gap Between IBIT and GBTC Reserves Tighten
Spot bitcoin ETFs had a consistent week of steady inflows, with $107.9 million recorded on Thursday, following $154 million the day before. Thursday marked the ninth straight day of inflows, bringing the total for U.S. bitcoin ETFs to $1.753 billion. Blackrock’s IBIT collected $89 million, increasing its BTC reserve to 284,525.85 BTC.
Fidelity’s FBTC fund gained $19 million, while HODL, BTCO, and ARKB saw more modest inflows. These inflows elevated FBTC’s BTC reserve to around 160,620 BTC by Friday morning. ARKB’s $2 million inflow raised its reserve balance to 48,414 BTC. Meanwhile, Bitwise’s BITB maintained a neutral position on Thursday, with reserves at 36,092.44 BTC.
GBTC recorded $14 million in outflows on Thursday, reducing its reserve to 289,256.93 BTC. This places Blackrock’s IBIT just 4,731.08 BTC, or $319 million, away from matching GBTC’s holdings. This close competition suggests IBIT might surpass GBTC by next week. As a result, GBTC has likely removed the claim of being “the world’s largest bitcoin ETF” from its website for that reason.
What do you think about the ninth day of inflows from the spot bitcoin ETFs? Share your thoughts and opinions about this subject in the comments section below.
