BlackRock’s IBIT ETF Drives $20 Billion Net Inflows, Grayscale Sees Outflows

• Bitcoin ETFs record over $20 billion in net inflows since launching, led by BlackRock’s IBIT with $22 billion.
• Grayscale’s GBTC sees $45.7 million daily inflows but faces cumulative outflows of $20.10 billion.
• Total Bitcoin ETF net assets reached $64.06 billion, representing 4.84% of Bitcoin’s overall market capitalization.

Bitcoin exchange-traded funds (ETFs) have recorded net inflows surpassing $20 billion since their launch in January, marking a milestone in the financial markets.

Notably, BlackRock’s IBIT ETF has contributed a substantial portion to this total, with inflows of over $22 billion, while Grayscale’s products have seen contrasting outflows of $20 billion during the same period.

According to Bitcoin Archive, BlackRock’s IBIT ETF has been a key driver in the rise of Bitcoin ETF net inflows. Since its launch, IBIT has garnered more than $22 billion in investments, a sign of increasing institutional interest in the cryptocurrency market.

IBIT holds the largest amount of net assets, valued at $25.79 billion, though it experienced a daily price decline of 1.37%, bringing the market price to $38.05.

While BlackRock has seen remarkable success with its Bitcoin ETF, Grayscale, a longstanding player in the cryptocurrency space, has experienced significant outflows.

Grayscale’s GBTC, despite receiving $45.70 million in daily inflows, has seen significant cumulative outflows, totaling -$20.10 billion. GBTC’s net assets were valued at $14.75 billion, and its market price stood at $53.16, reflecting a 1.34% daily drop.

According to a recent market update from SoSoValue Bitcoin ETF inflows, net assets, and price changes as of October 17, the daily total net inflow for Bitcoin ETFs reached $470.48 million, while the cumulative total net inflow stands at $20.66 billion.

The total value traded across all ETFs on this date was $1.47 billion, with the total net assets valued at $64.06 billion, which represents 4.84% of Bitcoin’s overall market cap.

Source: SoSoValue

Fidelity’s FBTC ETF saw a $11.69 million daily net inflow, contributing to its $10.29 billion cumulative net inflow. FBTC’s market price was $58.41, with a 1.40% decline in price over the day.

ArkB ETF had a daily inflow of $100.20 million, bringing its cumulative inflow to $2.75 billion. ArkB’s market price was $66.79, with a daily decline of 1.37%.

Other notable funds include Bitwise’s BITB ETF, with net assets of $2.76 billion, and Grayscale’s BTC ETF, with $419.18 million in net assets, both showing small price declines.

VanEck’s HODL ETF has $836.26 million in net assets, experiencing a 1.41% drop, while Valkyrie’s BRRR ETF has $537.64 million in net assets, with a 1.25% decline.