BlackRock BTC ETF attracts a lot of money: 69 consecutive days of inflows set a new record

Source: Blockchain Knight

The BTC ETF market has seen a clear inflow trend, with BlackRock's iShares IBIT leading the way.

The ETF market has been trading for more than three months since it was approved by the SEC (U.S. Securities and Exchange Commission) on January 10.

Among them, BlackRock stands out, with an impressive 69 consecutive days of inflows, and is about to set a new record.

Bloomberg ETF expert Eric Balchunas highlighted the growing interest in BlackRock's BTC ETF market and the overall adoption of the largest Crypto asset.

BlackRock's iShares Bitcoin Trust ETF has attracted inflows for 69 consecutive days, getting closer and closer to a new record.

Balchunas pointed out that the ETF only needs one more day of inflows to enter the top ten, tied with the airline JETS ETF.

From the inflow data, IBIT's average inflow in April trading was $223.4 million.

Farside data shows that the ETF's maximum inflow was $849 million and the minimum inflow was $18 million.

In contrast, Fidelity's FBTC ETF ranked second, with an average inflow of $118 million and a maximum inflow of $473 million in April.

But it is worth noting that Fidelity's ETF had zero inflows on three days in April (April 12, 15 and 17).

Meanwhile, 8 other ETFs have seen zero inflows for more than 8 days in April, highlighting the strong investor interest in Fidelity and BlackRock’s BTC ETFs.

In contrast, the Grayscale BTC Trust (GBTC) has experienced significant outflows over the past three months, losing nearly 300,000 BTC.

GBTC’s total outflows exceeded $1.6 billion in April alone. BlackRock’s BTC ETF, on the other hand, received similar BTC inflows during the same period.

Given these developments, Grayscale appears to be taking actions to improve performance and inflows to the firm’s assets under management (AuM).

Grayscale has revealed plans to launch a new spin-off version of its GBTC fund, the “Mini BTC ETF,” with a significantly lower fee of 0.15%. This fee is expected to be the lowest of all spot BTC ETFs, according to Grayscale’s latest filing.

The move can be seen as a strategic response to Grayscale’s recent challenges, including a lack of inflows to its flagship product due to the current high fees of 1.5%.

With the upcoming launch of the Bitcoin Mini Trust, Grayscale is looking to win back investor favor. The Bitcoin Mini Trust will have a competitive fee of 0.15%.

Currently, the Franklin BTC ETF (EZBC) is the lowest-cost BTC ETF with a fee of 0.19%.