BitMEX Research data shows that after five days of trading, Fidelity’s FBTC spot bitcoin ETF and BlackRock’s IBIT were the second fund to reach more than $1 billion worth of inflows.
According to statistics from BitMEX Research, Fidelity joined BlackRock in the $1 billion-plus inflows club yesterday, bringing the total net flows from the first five days of trading for the new U.S. spot bitcoin ETFs to roughly $1.2 billion.
Bitwise has received $395.5 million, putting it in third place, after Ark Invest/21Shares ($320.9 million) and Invesco ($194.9 million). So far, $3.4 billion has flowed into 10 of the 11 ETFs, while $2.2 billion has left Grayscale. All of the other funds have received less than $100 million in total investments.
Yesterday saw the biggest net outflow of $131.6 million from the spot bitcoin ETFs so far, with GBTC substantially outpacing the other funds’ inflows.
Despite $447.9 million in inflows from ten of the eleven ETF products combined, BitMEX Research reports that Grayscale’s converted fund lost $579.6 million.
The two largest spot bitcoin ETFs that received the most capital yesterday were Fidelity’s (FBTC) and BlackRock’s (IBIT), with $177.9 million and $145.6 million, respectively. The third-largest inflows for the day were $59 million to Invesco (BTCO), $41.8 million to Ark Invest/21Shares (ARKB), and $20.1 million to Bitwise (BITB). The remaining exchange-traded funds had no change in Thursday’s flows.
After returning to net inflows of $474 million on Wednesday, yesterday marked the second day of net outflows. There were $40.5 million in outflows on Tuesday as well, compared to $229.4 million on day two and $628.5 million on day one.
Trading activity yesterday was about $2.1 billion across all the funds, bringing the cumulative amount to nearly $14 billion, according to Yahoo Finance statistics collated by The Block. This suggests that spot bitcoin ETFs offered by Grayscale, BlackRock, and Fidelity maintain their dominance.
Nearly $1.1 billion in Thursday’s trading activity came from Grayscale’s GBTC, $416 million from BlackRock’s IBIT, and $367 million from Fidelity’s FBTC.
Also Read: South Korea’s top office wants the FSC to reconsider spot Bitcoin ETFs January 19, 2024
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