BlackRock's iShares Bitcoin Trust (IBIT) experienced net outflows of around $9 million on September 9, its third day of outflows since its launch in January. However, US spot Bitcoin exchange-traded funds (ETFs) saw positive net flows, reversing the trend of outflows that had occurred over the past eight trading days. The Fidelity Wise Origin Bitcoin Fund (FBTC) received over $28 million in net inflows, bringing its total net inflows in eight trading months to nearly $9.5 billion. Other Bitcoin ETFs, such as Bitwise Bitcoin ETF (BITB), ARK 21Shares Bitcoin ETF (ARKB), and Invesco Galaxy Bitcoin ETF (BTCO), also saw net capital inflows. On the other hand, the Grayscale Bitcoin Trust (GBTC) continued to lose assets, shedding almost $23 million in Monday trading. The asset under management (AUM) for GBTC has seen a significant reduction since its conversion to an ETF, with approximately 60% of its BTC holdings being liquidated. Overall, US spot Bitcoin ETFs ended Monday with more than $28 million in net inflows. The growing adoption of Bitcoin ETFs by investment advisors is also highlighted, with experts predicting that institutional holdings in IBIT could double within the next year.
- Content Editor ( cryptobriefing.com )
- 2024-09-10
BlackRock reports third day of outflows, but US Bitcoin ETFs still snap losing streak