Two days after approval, spot Bitcoin exchange-traded funds (ETFs) are receiving an impressive amount of inflow, according to data from BitMEX Research.
The analytics company reported a total net inflow of $532 million for spot Bitcoin ETFs, with BlackRock IBIT leading the pack at $498 million. Fidelity’s FBTC followed at $422 million, and 21 Shares’ ARKB posted a net inflow of $105 million.
However, not all funds experienced gains. Grayscale’s GBTC saw a sizeable outflow of $579 million, including a $484 million outflow on the second day alone, as reported by Bloomberg analyst James Seyffart on X.
Bitwise posts impressive second day performance
Interestingly, Bitwise was noted as the victor of the first day despite GBTC leading in terms of assets. Nonetheless, BitMEX Research suggested that GBTC might face significant outflows in the coming days, weeks, and months due to its hefty 1.5% fee.
As of the time of writing, other smaller players, including Hashdex and Valkyrie, were still waiting on precise data, while Fidelity had a solid second day, reeling in $195 million.
Go to Source to See Full Article
Author: Julius Mutunkei
Tip BTC Newswire with Cryptocurrency
Donate Bitcoin to BTC Newswire
Donate Bitcoin Cash to BTC Newswire
Donate Ethereum to BTC Newswire
Donate Litecoin to BTC Newswire
Donate Monero to BTC Newswire
Donate ZCash to BTC Newswire
