Strong BlackRock ETF inflows battle Grayscale outflows to sustain positive flows
Recent data from Farside Investors reveals a shift in Bitcoin exchange-traded fund (ETF) flows over the past two days. On July 17, Bitcoin ETFs experienced modest inflows totaling $53.3 million. The iShares Bitcoin Trust (IBIT) led with $110.4 million, while the Fidelity Physical Bitcoin ETP (FBTC) added $2.8 million. However, significant outflows were observed in the Grayscale Bitcoin Trust (GBTC), which saw a reduction of $53.9 million, and the Bitwise Bitcoin ETF (BITB), which faced a $6 million outflow.
The following day, July 18, continued this trend, with total inflows amounting to $84.8 million. The iShares Bitcoin Trust (IBIT) again led with $102.7 million, maintaining its strong position. Minor inflows were recorded for the Fidelity Physical Bitcoin ETP (FBTC) and HODL ETF, at $2.8 million and $1.8 million respectively. Conversely, the Grayscale Bitcoin Trust (GBTC) continued to experience outflows, losing another $22.5 million.
| ETF | Fee | July 17, 2024 | July 18, 2024 |
|---|---|---|---|
| IBIT | 0.21% | 110.4 | 102.7 |
| FBTC | 0.25% | 2.8 | 2.8 |
| BITB | 0.20% | (6.0) | 0.0 |
| ARKB | 0.21% | 0.0 | – |
| BTCO | 0.25% | 0.0 | 0.0 |
| EZBC | 0.19% | 0.0 | 0.0 |
| BRRR | 0.25% | 0.0 | 0.0 |
| HODL | 0.20% | 0.0 | 1.8 |
| BTCW | 0.25% | 0.0 | 0.0 |
| GBTC | 1.50% | (53.9) | (22.5) |
| DEFI | 0.90% | 0.0 | 0.0 |
| Total | – | 53.3 | 84.8 |
This recent activity marks a cooling off compared to the substantial inflows observed on July 15 and 16, which saw $300.9 million and $422.5 million, respectively. The strong inflows earlier in the week were driven by significant contributions to the iShares (IBIT), Fidelity (FBTC), and Ark (ARKB). The current reduction suggests a possible stabilization or reassessment by investors following a period of high activity.
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