Spot Bitcoin ETFs See High Inflows; BlackRock's Fund Outperforms Bitcoin

Despite a net outflow from Grayscale's Bitcoin Trust ETF, the first spot bitcoin ETFs in the US saw trading volumes of roughly $4.5 billion on their first day.

• Spot bitcoin ETFs by Bitwise and Fidelity saw higher day-one inflows compared to their competitors, with net inflows of $238 million and $227 million, respectively.
• Grayscale Investments’ Bitcoin Trust ETF (GBTC) saw net outflows of roughly $95 million.
• BlackRock’s iShares Bitcoin Trust (IBIT) has outperformed bitcoin since its launch, with less losses.
• IBIT and GBTC are leading the pack in terms of volume, with $334 million and $1 billion respectively.
• The first spot bitcoin ETFs in the US saw roughly $4.5 billion in day-one trading volumes.

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