BlackRock, WisdomTree Bitcoin ETFs dominate daily inflows
Key Takeaways
- BlackRock's IBIT led the pack, attracting over $157 million in net capital.
- WisdomTree's BTCW had a historic day with over $118 million, its largest inflow since its trading debut.
BlackRock’s iShares Bitcoin Trust (IBIT) solidified its market leadership on August 8, attracting over $157 million in net capital, according to data from Farside Investors. But the day’s standout performer was WisdomTree’s Bitcoin fund (BTCW), which experienced its largest single-day inflow since launch at over $118 million.
US Spot Bitcoin ETF Flows on August 8 – Source: Farside InvestorsSince its January debut, BTCW has struggled to compete with other Bitcoin ETFs, with net capital never surpassing $20 million until Thursday’s surge. The fund’s total inflows now stand at $201 million, though this remains relatively small compared to its competitors.
In addition to IBIT and BTCW, Bitcoin ETFs launched by Fidelity, ARK Invest/21Shares, and VanEck also reported inflows. Other ETFs, excluding Invesco’s BTCO, saw zero flows.
Strong inflows into IBIT and BTCW efficiently offset the massive capital drained from the Grayscale Bitcoin ETF (GBTC). On Thursday, investors withdrew approximately $183 million from the fund, the largest since early April.
Overall, US spot Bitcoin exchange-traded funds (ETFs) collectively attracted around $194 million in new investments on Thursday, extending their inflow streak after bleeding over $300 million earlier this week.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Is the interest rate cut really good news for the market?
The closer we get to a rate cut, the more funds tend to be withdrawn from risky markets.
Bitcoin in ‘seasonal slog’ with slim chance of short-term price catalysts: NYDIG
“Potential upcoming near-term catalysts for Bitcoin are sparse at the moment,” says NYDIG head of research Greg Cipolaro.
Ethereum Withdrawals Surpass 40,000 ETH, Meaning Possible Market Shift
Pepe Coin Price Flashes Huge 25% Buy Signal – Is a Massive Rally Next?
PEPE has been oversold for a couple of weeks, putting it a strong position to make some big gains quite quickly.