Strong BlackRock ETF inflows battle Grayscale outflows to sustain positive flows

Recent data from Farside Investors reveals a shift in Bitcoin exchange-traded fund (ETF) flows over the past two days. On July 17, Bitcoin ETFs experienced modest inflows totaling $53.3 million. The iShares Bitcoin Trust (IBIT) led with $110.4 million, while the Fidelity Physical Bitcoin ETP (FBTC) added $2.8 million. However, significant outflows were observed in the Grayscale Bitcoin Trust (GBTC), which saw a reduction of $53.9 million, and the Bitwise Bitcoin ETF (BITB), which faced a $6 million outflow.
The following day, July 18, continued this trend, with total inflows amounting to $84.8 million. The iShares Bitcoin Trust (IBIT) again led with $102.7 million, maintaining its strong position. Minor inflows were recorded for the Fidelity Physical Bitcoin ETP (FBTC) and HODL ETF, at $2.8 million and $1.8 million respectively. Conversely, the Grayscale Bitcoin Trust (GBTC) continued to experience outflows, losing another $22.5 million.

ETF
Fee
July 17, 2024
July 18, 2024

IBIT
0.21%
110.4
102.7

FBTC
0.25%
2.8
2.8

BITB
0.20%
(6.0)
0.0

ARKB
0.21%
0.0
–

BTCO
0.25%
0.0
0.0

EZBC
0.19%
0.0
0.0

BRRR
0.25%
0.0
0.0

HODL
0.20%
0.0
1.8

BTCW
0.25%
0.0
0.0

GBTC
1.50%
(53.9)
(22.5)

DEFI
0.90%
0.0
0.0

Total
–
53.3
84.8

This recent activity marks a cooling off compared to the substantial inflows observed on July 15 and 16, which saw $300.9 million and $422.5 million, respectively. The strong inflows earlier in the week were driven by significant contributions to the iShares (IBIT), Fidelity (FBTC), and Ark (ARKB). The current reduction suggests a possible stabilization or reassessment by investors following a period of high activity.
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