BlackRock and Fidelity Bitcoin ETFs Top 10 in January Fund Flows

Author: Jesse Coghlan, Cointelegraph; Compiler: Deng Tong, Golden Finance

BlackRock and Fidelity’s spot Bitcoin exchange-traded funds (ETFs) have become the capital flow in January One of the largest ETFs, totaling approximately $4.8 billion.

According to a February 3 report from Morningstar research analysts, BlackRock’s iShares Bitcoin Trust (IBIT) had an estimated net flow of $2.6 billion, reaching eighth place, The Fidelity Wise Origin Bitcoin ETF (FBTC) ranked tenth with net flows of $2.2 billion.

The data also showed that the Grayscale Bitcoin Trust (GBTC) had the second-largest outflows among ETFs in January, with the fund recording an estimated $5.7 billion in net outflows for the month.

"I never thought I would see this day," Nate Geraci, president of investment advisory firm ETF Store, wrote in the X post sharing the data.

In another X post, Geraci said that BlackRock and Fidelity’s funds were a “clear two-horse race” among the nine new Bitcoin funds.

He added that ARK Invest and 21 Shares and Bitwise’s joint ETF (both of which have less than $650 million in assets under management) are developing into a “strong middle class” and predicted that their assets will “ One billion US dollars in the near future." ”

According to data released by BitMEX Research to Fidelity funds hold.

Inflows into nine new spot Bitcoin funds in the trading days between January 26 and February 2 exceeded Grayscale’s ongoing outflows in one week There has been a slowdown, with GBTC recording its second-lowest outflow day on February 2, at $144.6 million.

Following four consecutive days of outflows between January 22 and 25, Six consecutive days of capital inflows, when outflows from GBTC peaked, with a total net outflow of $431.8 million from these 10 ETFs.

Eric Balchunas, senior ETF analyst at Bloomberg In an article on February 3, he wrote that in addition to GBTC, these nine ETFs "rebounded from last week's decline" and were "really worth watching."

He added:< strong>“The hype typically follows a slow decline,” and the fund’s net inflows in its third week of trading “suggest that these ETFs are supportive.”