- U.S. spot bitcoin exchange-traded funds (ETFs) recorded their ninth consecutive day of positive inflows, amassing $107.9 million on Thursday.
- Blackrock’s IBIT ETF led the way, securing an inflow of $89 million, while Grayscale’s bitcoin trust (GBTC) experienced $14 million in outflows.
- The gap between IBIT and GBTC’s bitcoin reserves has tightened, with IBIT’s reserves just $31.9 million away from surpassing GBTC’s holdings, potentially making it the world’s largest bitcoin ETF.
Bitcoin exchange-traded funds (ETFs) have seen their ninth consecutive day of inflows, totaling $107.9 million on Thursday. This continued adoption of Bitcoin through regulated investment vehicles highlights the asset’s mainstream appeal.
Blackrock Leads Inflows with $89 Million
Blackrock’s IBIT ETF saw the largest inflow, collecting $89 million and increasing its BTC reserves to 2,845,258.5 BTC. This places IBIT just 473,108 BTC away from matching Grayscale’s GBTC as the largest Bitcoin ETF.
Fidelity and ARK Also See Gains
Fidelity‘s FBTC gained $19 million, elevating its reserves to around 160,620 BTC. ARK’s $2 million inflow raised its balance to 48,414 BTC. Bitwise’s BITB remained neutral with reserves at 3,609,244 BTC.
GBTC Records Outflows
In contrast, GBTC saw $14 million in outflows, reducing reserves to 28,925,693 BTC. This tightening gap suggests IBIT may surpass GBTC as the world’s largest Bitcoin ETF soon.
Conclusion
The sustained inflows into Bitcoin ETFs highlight increasing institutional adoption. As more investors utilize these regulated vehicles, Bitcoin’s legitimacy and integration into the wider financial system continues apace.
