US Spot Bitcoin exchange-traded funds On August 23, they recorded their six-day consecutive net inflows totaling around $65.8 million. Positive flows have been sustained for several days, highlighting the demand from institutions to gain regulated Bitcoin exposure.
BlackRock’s iShares Bitcoin Trust – IBIT – let $75.5 millions inflow the day. IBIT was launched in April of 2024. It has rapidly become the world’s largest Bitcoin ETF with assets in excess of $20 billion.
Fidelity’s Wise Origin Bitcoin Trust received another $9.2 Million, and the ARK 21Shares Bitcoin ETF experienced inflows worth $7.8 Million. VanEck’s ETFs, WisdomTree’s ETFs, and smaller spot bitcoin funds like VanEck’s added multiple millions each.
However, Grayscale’s Bitcoin Trust has continued to suffer from a loss of funds, with $28,4 millions in withdrawals. Investors have shifted to other options that are cheaper. GBTC lost more than $20 billion after converting into an ETF in 2024.
BlackRock IBIT’s assets under administration have surpassed $20 billion. This has led to major investments by Morgan Stanley, Goldman Sachs and pension funds. Bitcoin ETFs are now a major gateway for institutional investors thanks to its rise.
In total, US bitcoin spot ETFs saw a combined $250 million pour into the products in this past week due to a recovering Bitcoin market. After months of stagnant interest, the uninterrupted flow indicates that institutional investors are more confident.
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Source: bitcoinmagazine.com
