Bitcoin ETFs see mixed results: BlackRock, Fidelity lead as others face first inflow halt.
The once-thriving Bitcoin ETF sector saw a downturn, with Bitwise Bitcoin ETF (BITB) and ARK 21Shares Bitcoin ETF (ARKB) recording no new inflows for the first time since their debut. Bloomberg Terminal data shows BITB and ARKB's inflows fell to $23.4 million and $50.5 million, respectively, marking a significant decrease from their early trading days. Despite not leading the market, both have attracted substantial investment, accumulating 31,000 BTC, or over $1.3 billion.
BlackRock's iShares Bitcoin Trust (IBIT) and Fidelity Wise Origin Bitcoin Fund (FBTC) continue to lead, securing over 137,000 BTC. Their consistent growth contrasts with Bitwise and ARK's recent stagnation, with BlackRock's ETF notably entering the top 5 for year-to-date inflows.
**Grayscale Bitcoin Trust (**GBTC) experiences a decrease in outflows, suggesting a potential shift in investor confidence. Despite shedding 146,000 BTC, its recent outflows were among the lowest post-ETF conversion.
Overall,Bitcoin ETFs, including Grayscale, netted over $1.5 billion in inflows since last month, indicating continued interest despite some funds facing challenges.
In summary, BlackRock and Fidelity's ETFs outshine as Bitwise and ARK see a slowdown, reflecting a mixed but still positive landscape for Bitcoin ETF investments.
