U.S. Bitcoin ETFs See 5-Day Inflow Streak as Blackrock’s IBIT Leads the Charge
Spot Bitcoin ETFs in the U.S. recorded another day of net inflows, extending their streak to five consecutive green trading days.
Blackrock’s IBIT Takes Center Stage Amid Bitcoin ETF Inflows
According to Sosovalue, spot Bitcoin exchange-traded funds (ETFs) are gaining momentum, with cumulative inflows continuing to grow. On Wednesday, January 22, inflows reached $248.65 million, with Blackrock’s IBIT ETF dominating the market by securing $344.28 million.
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While Blackrock’s IBIT experienced significant growth, other Bitcoin ETFs recorded outflows. Grayscale’s GBTC, Bitwise’s BITB, and Ark & 21Shares’ ARKB saw outflows of $47.93 million, $34.67 million, and $13.02 million, respectively.
Despite these outflows, the substantial inflows into Blackrock’s IBIT ensured that the Bitcoin ETF market closed in the green. By the end of the trading day, Blackrock’s IBIT remained the largest Bitcoin ETF by net assets, boasting $59.78 billion. Fidelity’s FBTC and Grayscale’s GBTC followed with $22.16 billion and $21.16 billion, respectively.
Bitcoin ETF Market Surpasses $39 Billion in Net Inflows
Over the five-day streak, Bitcoin ETFs have recorded a cumulative total net inflow of $39.23 billion. Together, the 11 Bitcoin ETFs hold a combined value of $121.40 billion, representing 5.87% of Bitcoin’s total market capitalization.
Ethereum ETFs Join the Rally
Ethereum ETFs have also maintained a five-day inflow streak. Blackrock’s ETHA and Fidelity’s FETH led the charge with inflows of $79.11 million and $8.98 million, respectively, while Grayscale’s ETHE experienced outflows of $17.44 million.
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This activity brought the cumulative total net inflow for Ethereum ETFs to $2.81 billion, with nine Ethereum-focused ETFs collectively holding $11.93 billion in assets.
Outlook
The consistent inflows into Bitcoin and Ethereum ETFs signal growing investor confidence in these digital assets. With Blackrock and other major players driving the market, the crypto ETF sector continues to expand, capturing a larger share of the cryptocurrency market.
