U.S. Bitcoin exchange-traded funds (ETFs) witnessed another day of positive inflows, marking their ninth consecutive day of growth. On Thursday, these ETFs accumulated a total of $107.9 million. The leading fund in terms of inflows was Blackrock’s IBIT, which secured $89 million. However, Grayscale’s Bitcoin trust (GBTC) experienced outflows of $14 million.
The gap between the reserves of IBIT and GBTC has narrowed significantly. In the past week, spot Bitcoin ETFs have consistently seen steady inflows. On Thursday, they recorded $107.9 million, following the previous day’s inflow of $154 million. This nine-day streak of inflows has brought the total for U.S. Bitcoin ETFs to $1.753 billion. IBIT, managed by Blackrock, collected $89 million, increasing its Bitcoin reserve to 284,525.85 BTC.
Other funds also saw inflows, albeit on a smaller scale. Fidelity’s FBTC gained $19 million, elevating its Bitcoin reserve to around 160,620 BTC by Friday morning. HODL, BTCO, and ARKB also experienced modest inflows. ARKB’s $2 million inflow increased its reserve balance to 48,414 BTC. Bitwise’s BITB, on the other hand, maintained a neutral position with reserves at 36,092.44 BTC.
In contrast, GBTC recorded outflows of $14 million on Thursday, reducing its reserve to 289,256.93 BTC. This puts Blackrock’s IBIT just 4,731.08 BTC, or $319 million, away from matching GBTC’s holdings. This close competition suggests that IBIT might surpass GBTC in terms of holdings by next week. As a result, GBTC has likely removed the claim of being “the world’s largest Bitcoin ETF” from its website.
What are your thoughts on the ninth day of inflows from spot Bitcoin ETFs? Share your opinions in the comments section below.
