BTC Spot ETFs See Strong Inflows of $50.6 Million

IconCryptoNewsTerminal Staff01 Aug, 2024

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BTC Spot ETFs See Strong Inflows of $50.6 Million

Bitcoin Spot ETFs Experience Significant Inflows According to SoSoValue, a cryptocurrency market data analysis platform, Bitcoin (BTC) spot exchange-traded funds (ETFs) witnessed a notable influx of $50.6 million in net inflows on February 1st (local time). This surge marks the third consecutive trading day of positive net inflows. Grayscale Mini Bitcoin Trust Leads the Charge Grayscale's Bitcoin mini-trust (BTC) recorded an impressive net inflow of $191 million. This trust is a spin-off product of Grayscale Bitcoin Trust (GBTC) with a significantly lower management fee of 0.15%, compared to GBTC's 0.95%. Other Notable Inflows Fidelity's FBTC saw a net inflow of $48.4 million, while Bitwise's BITB and Ark Invest's ARKB logged inflows of $20.7 million and $22.4 million, respectively. VanEck's HODL also contributed to the positive inflow with $3.6 million. BlackRock and Grayscale Stand Out BlackRock's IBIT bucked the trend with a net inflow of $25.9 million, indicating investor confidence in the platform. Additionally, Grayscale GBTC, despite its net outflow of $71.3 million, remains a significant player in the Bitcoin ETF market.

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