BlackRock’s IBIT Brought $3.85B While GBTC Saw Lowest Monthly Outflow
Institutional inflows held Bitcoin close to its all-time high in June while the market saw pressure from different sides.
Institutional inflows held Bitcoin close to its all-time high in June while the market saw pressure from different sides.
BlackRock’s spot Bitcoin ETF fund IBIT has recorded its largest single-day outflow of $418.1 million amid broader crypto market volatility, though it maintains dominance in the US market.
According to an industry expert Peter Chung, these outflows may have been caused by the unwinding of basis trades by institutional investors.
The combined net asset value of Bitcoin spot ETFs globally stands at $105.05 billion.
BlackRock Bitcoin ETF (IBIT) experienced its highest single-day outflow of $330 million while recording three consecutive days of outflows.
Grayscale’s Bitcoin Trust (GBTC) has faced significant outflows of $21 billion, attributed to high management fees and competitive pressure from lower-cost rivals.
US spot Bitcoin ETFs have hit a milestone of $100 billion in assets under management (AUM), fueled by strong inflows and a surge in Bitcoin price to $98,000.
Call options dominated the activity, making up 82% of contracts, signaling strong bullish sentiment.
BlackRock’s IBIT was one of the best performers last week, recording an impressive daily inflows throughout the week.
BlackRock’s IBIT set a trading record as Bitcoin ETFs bounced back with significant inflows, while Bitcoin itself climbed to $75,000.
BlackRock’s Bitcoin ETF continues to record significant daily inflows despite the fluctuating market.
Despite the steady inflows into Bitcoin ETFs, the crypto market remains ever volatile.
The divergence in the performance between Bitcoin and Ethereum ETFs underscores the unique market conditions each faces.
Spot Ethereum ETF products are faring below expectations, including BlackRock’s iShares Ethereum Trust.
The funds pulled in an impressive $106 million on the day, with BlackRock’s iShares Bitcoin Trust (IBIT) clearly in charge of the movement.