Exchange-traded funds (ETFs) spot bitcoin from BlackRock and Fidelity are among the ETFs with the largest flows in January, with a total of about $4.8 billion. It comes after the approval of 11 Bitcoin ETFs by the SEC.
The iShares Bitcoin Trust (IBIT) BlackRock had estimated net flows of US$2.6 billion, reaching eighth place, while the Fidelity Wise Origin Bitcoin ETF (FBTC)se ranked 10th with $2.2 billion in net flows, according to a Feb. 3 report by Morningstar research analyst Lan Anh Tran, using proxy data from issuers’ websites.
The data also showed that the Grayscale Bitcoin Trust (GBTC) had the second-highest outflows among ETFs in January, with $5.7 billion estimated to have netted out of the fund during the month.
“I never thought this day would come,” he wrote. Nate Geraci president of the investment advisory company ETF Store, in a post in which he shared the data.
“Two bitcoin ETFs are in the top 10 of all ETF inflows in January… I never thought this day would come.”
In a separate X post, Geraci said the BlackRock and Fidelity funds are in a “clear two horse race” among the nine new bitcoin exchange traded funds.
Morningstar’s report comes amid positive net inflows for six consecutive days in the US Bitcoin Spot ETFwhich accumulated a total of almost US$715 million, most of which was carried by BlackRock and Fidelity funds, according to data published in X on February 3 by BitMEX Research.
On the trading days of January 26 to February 2, flows into the nine new bitcoin spot funds surpassed persistent GBTC outflows during the weekand the ETF recorded its second lowest outflow day on February 2, with $1.44.6 million.
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