BlackRock Bitcoin ETF’s growth cools off with its smallest net inflow to date

exchange68September 12, 2024

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Quick Take

According to data from Farside Investors, spot Bitcoin ETFs continued with net inflows on Feb. 6, recording an intake of $33 million. This marks the eighth straight trading day of net inflows. However, the momentum seems to be slowing down. BlackRock IBIT saw its smallest net inflow since its inception, a mere $45 million, bringing its total net inflow to a commendable $3.2 billion.

On the other hand, the Grayscale Bitcoin Trust (GBTC) registered another day of outflows, but with a diminishing volume of $73 million, the lowest recorded in any trading day. Farside Investors data shows that the ongoing outflows at GBTC have accumulated to an estimated $6.15 billion.

The ETFs continue to demonstrate resilience despite the slowing net inflows, with total net inflows reaching $1.56 billion, according to Farside Investors. If these trends persist, they will be worth observing.

Spot Bitcoin ETF data: (Source: farside.co.uk)

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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