BlackRock’s iShares Bitcoin Trust (IBIT) Shines with $205 Million in Net Inflows
BlackRock’s iShares Bitcoin Trust (IBIT) stood out from its ETF peers on Monday, attracting a whopping $205 million in net inflows while the rest of the market either reported losses or zero net flows, according to data from Farside Investors.
In contrast to IBIT’s success, other popular funds like Grayscale’s GBTC, Bitwise’s BITB, and Fidelity’s FBTC experienced net outflows of $54 million, $21 million, and $6 million, respectively. Competing funds didn’t fare much better, with zero inflows reported.
The Bitcoin ETF market is set to see a new player soon with the introduction of Grayscale’s Bitcoin Mini Trust (BTC), a mini version of the Grayscale Bitcoin Trust. With a management fee of just 0.15%, significantly lower than the 1.5% charged by GBTC, BTC aims to provide investors with a lower-cost option to gain exposure to Bitcoin through Grayscale’s investment products.
Grayscale’s GBTC, once a dominant player, has seen its assets under management (AUM) fall behind IBIT, with almost $23 billion in AUM compared to GBTC’s $18.1 billion as of July 29.
On the Ethereum front, BlackRock’s iShares Ethereum Trust (ETHA) also saw success, recording $58 million in net inflows on Monday, bringing the total inflows to $500 million. However, Grayscale’s Ethereum ETF (ETHE) experienced aggressive outflows, with $210 million pulled out on Monday and around $1.7 billion drained since its conversion into an ETF.
Despite the success of ETHA, other Ethereum ETFs like Fidelity’s FETH, VanEck’s ETHV, Bitwise’s ETHW, Franklin Templeton’s EZET, and Grayscale’s ETH ended Monday with around $98 million in net outflows.
Overall, BlackRock’s IBIT and ETHA have emerged as strong contenders in the ETF market, showcasing their appeal to investors looking for exposure to Bitcoin and Ethereum with lower fees and competitive performance.
