US Bitcoin ETFs Saw the Sixth Consecutive Day of Inflows

Credit : bitcoinmagazine.com

US exchange-traded Bitcoin funds registered internet inflows for the sixth day in a row on August 23, totaling round $65 million. The continued sequence of constructive flows underlines the rising institutional demand for regulated Bitcoin publicity.

BlackRock’s iShares Bitcoin Belief (IBIT) closed in on $75.5 million. Launched in April 2024, IBIT has shortly develop into the biggest spot Bitcoin ETF, with greater than $20 billion in property underneath administration.

Constancy’s Smart Origin Bitcoin Belief raked in one other $9.2 million, whereas the ARK 21Shares Bitcoin ETF noticed inflows of $7.8 million. Smaller spot bitcoin ETFs like VanEck’s and WisdomTree’s additionally added a number of million every.

Nevertheless, Grayscale’s Bitcoin Belief continued to empty cash with an outflow of $28.4 million as traders migrated to cheaper choices. GBTC has misplaced greater than $20 billion since switching to an ETF construction in 2024.

With property underneath administration of greater than $20 billion, BlackRock’s IBIT has attracted main investments from Morgan Stanley, Goldman Sachs and pension funds. Its rise has strengthened Bitcoin ETFs’ place as a gateway for institutional capital.

General, US spot bitcoin ETFs have seen a complete of $250 million inflows into the merchandise this week, amid a resurgent Bitcoin market. The uninterrupted influx indicators a strengthening of institutional conviction after months of lukewarm curiosity.