Bitcoin ETFs see $380 net inflow in 2 days with BlackRock leading the charge Liam ‘Akiba’ Wright · 7 days ago
Bitcoin exchange-traded funds (ETFs) revealed blended activity over the previous 2 days, following a net outflow of $79.1 million on Oct. 22 that ended a seven-day inflow streak amounting to over $2.4 billion given that Oct. 14.
On Oct. 23, ETFs signed up a net inflow of $192.4 million. The iShares Bitcoin Trust (IBIT) led with $317.5 million in brand-new financial investments, while ARK’s Bitcoin ETF (ARKB) saw considerable outflows of $99 million. Bitwise’s BITB likewise tape-recorded an outflow of $25.2 million.
The following day, Oct. 24, ETFs continued to bring in capital with a net inflow of $188 million. IBIT kept its strong efficiency, generating an extra $165.5 million. Bitwise’s BITB reversed its previous day’s outflow by acquiring $29.6 million. Grayscale’s BTC fund experienced a small outflow of $7.1 million.
The continual inflows into IBIT emphasize its popular function in using standard financial investment direct exposure to Bitcoin. President of the ETF Store, Nate Geraci, explained BlackRock’s efficiency on Oct. 24 alone “would quickly put IBIT in leading 10% of all launches in 2024 (out of 575+ ETFs).” Alternatively, the outflows from ARKB recommend possible profit-taking or shifts in financial investment methods.
Bitcoin circulations (Source: Farside Investors)Latest Insights » …
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