Bitcoin spot ETFs see $252M inflow, highest since July 23

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Cryptopolitan2024/08/23 16:00

By:By Jai Hamid

Bitcoin spot ETFs just saw a huge inflow of $252 million yesterday, the biggest since July 23. Despite some funds like Grayscale’s GBTC seeing outflows, others like BlackRock and Fidelity pulled in big money.

Bitcoin spot ETFs are seeing some serious action. On August 23, they brought in a massive $252 million in net inflows—the highest single-day amount since July 23. The funds have been on a hot streak with net inflows for seven straight days.

But Grayscale’s GBTC had an outflow of $35.55 million, showing not every player is having a good time. Meanwhile, its smaller ETF, the BTC mini, saw a positive inflow of $50.83 million.

Over at BlackRock, their IBIT ETF had a strong showing with an $86.83 million inflow, and Fidelity’s FBTC ETF wasn’t far behind, pulling in $63.99 million.

At press time, the top five spot Bitcoin ETFs by assets under management (AUM) are led by Grayscale Bitcoin Trust (GBTC) with $21.4 billion in AUM.

BlackRock’s iShares Bitcoin Trust (IBIT) follows with $2.2 billion. Fidelity’s Wise Origin Bitcoin Fund (FBTC) comes next at $1.34 billion, ARK’s 21Shares Bitcoin ETF (ARKB) with $637 million, and Invesco Galaxy Bitcoin ETF (BTCO) rounding out the list with $295 million.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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