Spot Bitcoin exchange-traded funds (ETFs) have continued to show impressive numbers since 11 of the products started trading last month following approval from the United States Securities and Exchange Commission (SEC) on January 10.
14 Days of Consecutive Inflows
According to data from SoSoValue, these investment vehicles have witnessed a remarkable 14 days of consecutive net inflows, signaling investors’ growing interest in the regulated financial product.
Net inflow is the difference between the dollar amount flowing in and out of the investment products. A positive net inflow indicates that more money is being poured into the ETFs than being withdrawn, signifying investor confidence and demand.
On February 14, the total net inflow for spot Bitcoin ETFs was $339 million, bringing the overall inflows to over $10.9 billion since their launch in January.
Amongst these products, BlackRock’s iShares Bitcoin Trust (IBIT) maintains dominance, attracting a net inflow of $224 million. This brings IBIT’s total net inflow since launch to a staggering $4.84 billion, solidifying its position as the most popular spot Bitcoin ETF among investors.
Other products that witnessed inflows on February 14 include Fidelity Wise Origin Bitcoin Fund (FBTC) with $118.93 million, ARK 21Shares Bitcoin ETF (ARKB), with $101.54 million, Bitwise Bitcoin ETF (BITB) with $47.17 million, VanEck Bitcoin Trust (HODL) with $2.93 million, Valkyrie Bitcoin Fund (BRRR) with $1.03 million.
The Franklin Bitcoin ETF (EZBC) and the WisdomTree Bitcoin Fund (BTCW) saw an inflow of $9.01 million and $3.58 million respectively.
GBTC Fails to Impress
While the overall sentiment leaned towards inflows, two products experienced net outflows. Grayscale’s Bitcoin Trust (GBTC) saw a net outflow of $131 million, while Invesco Galaxy Bitcoin ETF (BTCO) witnessed a smaller outflow of $37.51 million.
Grayscale’s Bitcoin Trust is known to have witnessed consecutive outflows since its launch. This can be attributed to the product’s higher fees when compared to others. While others charge management fees from 0.2% to 0.9%, Grayscale charges investors 1.5%.
Meanwhile, February 13 remains the largest daily inflow for spot Bitcoin ETFs. According to SoSoValue, the net inflow of Bitcoin spot ETFs reached $631 million that day.
