BlackRock's Bitcoin Spot ETF Sees First Net Inflow in Over Three Weeks

BlackRock Spot bitcoin ETF (exchange-traded fund) yesterday recorded its first net inflow since August 26 after $15.8 million was added to the fund's reserves.

Prior to yesterday's net inflows, BlackRock's IBIT had suffered 11 consecutive days of no outflows. It also recorded two days of net outflows on Aug. 29 and Sept. 9 of $13.5 million and $9.1 million, respectively, according to btc/”>data from Farside Investors.

<img decoding="async" src="https://technicalterrence.com/wp-content/uploads/2024/07/Bitcoin-ETF-inflows-hit-654M-in-3-days-but-still.jpg" alt="bitcoin ETF Fund Inflow: BlackRock's IBIT Surpasses Record $18.5 Billion in Assets Under Management”/>

BlackRock's bitcoin ETF is not the only fund seeing net inflows

Along with IBIT's net inflows yesterday, Fidelity's FBTC, Franklin's EZBC, VanEck's HODL, and Grayscale's btc also saw capital enter their reserves yesterday.

FBTC recorded $5.1 million in net inflows, EZBC $5 million and HODL $4.9 million. Investors also pumped $2.8 million into Grayscale’s btc.

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”10.184501845018″>

bitcoin ETF Flow (USD Million) – September 16, 2024

TOTAL NET FLOW: 12.8

DEPARTURE: 15.8
FBTC Rating: 5.1
BITB: 0
ARKB: 0
BTCO: 0
EZBC: 5
BRRR: 0
HODL: 4.9
Gross weight: 0
GBTC: -20.8
btc: 2.8

For full details and disclaimers, please visit:https://t.co/Wg6Qpn0Pqw

— Farside Investors (@FarsideUK) twitter.com/FarsideUK/status/1835888157104963698?ref_src=twsrc%5Etfw”>September 17, 2024

Overall, the new American spot bitcoin ETFs recorded $12.8 million in net inflows yesterday. Following yesterday's net inflows, the funds have now had three consecutive days of positive net inflows.

This comes after US spot bitcoin ETFs recorded net inflows of $263.2 million on Sept. 13, and net inflows of $39 million the day before.

Grayscale's conversion fund continues to bleed

Yesterday’s total inflows were offset by $20.8 million flowing out of Grayscale’s GBTC fund. While GBTC was able to break its negative inflow streak with a surprising net inflow of $6.7 million on Sept. 13, the fund has lost over $20 billion since it became a bitcoin spot ETF in January of this year.

On the other hand, BlackRock's IBIT has been the preferred choice among bitcoin spot ETF investors and has raised over $20.9 billion since its launch.

Second place goes to Fidelity's FBTC fund, with a total of $9.647 billion in capital inflows. Meanwhile, the Ark and 21Shares fund is in third place, with reserves of more than $2.35 billion.

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