- Bitcoin ETFs recorded a joint net inflow of $886.6 million, the second-highest ever.
- Fidelity Wise Origin Bitcoin Fund led with $378.7 million in inflows.
- Grayscale Bitcoin Trust saw a rare inflow of $28.2 million amidst overall high ETF activity.
Bitcoin exchange-traded funds (ETFs) in the United States have experienced a substantial influx of investments, marking their second-highest net inflow day with $886.6 million. Preliminary data from Farside Investors highlights a strong performance from several key funds on this record-setting day. Leading the pack, the Fidelity Wise Origin Bitcoin Fund (FBTC) saw the highest inflow at $378.7 million. BlackRock’s iShares Bitcoin Trust (IBIT) followed closely with $274.4 million in inflows. The ARK 21Shares Bitcoin ETF (ARKB) also performed well, securing $138.7 million in net inflows.
This influx marks the highest net inflows since March 12, when Bitcoin ETFs collectively took in a record $1.04 billion, a day before Bitcoin reached an all-time high of $73,679.
Grayscale Bitcoin Trust Performance
The Grayscale Bitcoin Trust (GBTC) experienced a rare inflow day, adding $28.2 million. Since converting from a closed-end fund to a spot ETF in January, this is only the seventh inflow day for GBTC. The fund has seen significant outflows due to its high management fees and the narrowing discount that provided an exit opportunity for many holders. Initially holding 620,000 BTC, GBTC’s assets have now reduced to 285,481 BTC, valued at $20.2 billion.
Market Reactions and Analyst Comments
Nate Geraci, president of ETF Store, addressed Bitcoin critics who doubted the demand for Bitcoin ETFs, pointing out the substantial recent inflows as evidence of continued investor interest. Bloomberg ETF analyst Eric Balchunas noted the significant activity among the leading Bitcoin ETFs, referring to the inflows as “big-time flows all around today for The Ten,” except for Hashdex’s ETF, which did not see any inflows.
