Strong BlackRock ETF inflows battle Grayscale outflows to sustain positive flows

Recent data from Farside Investors reveals a shift in Bitcoin exchange-traded fund (ETF) flows over the past two days. On July 17, Bitcoin ETFs experienced modest inflows totaling $53.3 million. The iShares Bitcoin Trust (IBIT) led with $110.4 million, while the Fidelity Physical Bitcoin ETP (FBTC) added $2.8 million. However, significant outflows were observed in the Grayscale Bitcoin Trust (GBTC), which saw a reduction of $53.9 million, and the Bitwise Bitcoin ETF (BITB), which faced a $6 million outflow.

The following day, July 18, continued this trend, with total inflows amounting to $84.8 million. The iShares Bitcoin Trust (IBIT) again led with $102.7 million, maintaining its strong position. Minor inflows were recorded for the Fidelity Physical Bitcoin ETP (FBTC) and HODL ETF, at $2.8 million and $1.8 million respectively. Conversely, the Grayscale Bitcoin Trust (GBTC) continued to experience outflows, losing another $22.5 million.

ETFFeeJuly 17, 2024July 18, 2024IBIT0.21%110.4102.7FBTC0.25%2.82.8BITB0.20%(6.0)0.0ARKB0.21%0.0–BTCO0.25%0.00.0EZBC0.19%0.00.0BRRR0.25%0.00.0HODL0.20%0.01.8BTCW0.25%0.00.0GBTC1.50%(53.9)(22.5)DEFI0.90%0.00.0Total–53.384.8

This recent activity marks a cooling off compared to the substantial inflows observed on July 15 and 16, which saw $300.9 million and $422.5 million, respectively. The strong inflows earlier in the week were driven by significant contributions to the iShares (IBIT), Fidelity (FBTC), and Ark (ARKB). The current reduction suggests a possible stabilization or reassessment by investors following a period of high activity.