% 0.10
BTC Dominance:
% 0.22
Market Cap:
$2.34 T
% 1.02
Fear & Greed:
63 / 100
$ 64.269
BTC Dominance:
% 54.0
Market Cap:
$2.34 T

Grayscale Trails Behind in ETF Outflows, ARKB Loses $87.5 Million


Grayscale Bitcoin Trust (GBTC), the leading Bitcoin investment vehicle, saw its lowest outflows since mid-March, but it was surpassed by ARK Innovation ETF (ARKB) which recorded a higher outflow of $87.5 million. This marks the first time since the launch of spot Bitcoin ETFs on April 2nd that GBTC wasn’t the leader in outflows.

Spot Bitcoin ETFs Surge in Popularity

Despite GBTC’s outflows, the overall spot Bitcoin ETF market is experiencing positive inflows. Since their launch, the “Newborn Nine” spot Bitcoin ETFs have collectively gathered over $12 billion in net inflows. The last week of March saw a particularly strong inflow period, with over $800 million entering spot Bitcoin ETFs.

Data from Bloomberg ETF analyst Eric Balchunas indicates that March trading volumes for spot Bitcoin ETFs reached a staggering $111 billion, tripling the volumes recorded in the previous two months.

BlackRock and Fidelity’s Bitcoin ETFs Shine

BlackRock’s iShares Bitcoin ETF (IBIT) and Fidelity’s Bitcoin Trust (FBTC) have captured significant investor interest within their first three months. These two ETFs have even outshined hundreds of other funds offered by their respective issuers, attracting unprecedented levels of investment.

IBIT, for example, accounted for more than half of BlackRock’s yearly net inflows, while FBTC represented 70% of Fidelity’s. Notably, IBIT has achieved the fastest growth rate of any ETF in history.

Remarkably, both IBIT and FBTC have witnessed continuous cash inflows for an impressive 52 consecutive days, highlighting the strong investor confidence in these vehicles. This uninterrupted inflow streak positions them among ETFs with the most significant and sustained investor interest.

READ:  How Many Bitcoins Are There in The World?

Bitcoin Investors Show Resilience

Contrary to expectations of investor pullback during market downturns, recent data reveals continued strategic investments in Bitcoin ETFs despite price fluctuations. This trend suggests a more sophisticated and resilient investor base, one that prioritizes long-term strategy over short-term market movements.

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