BlackRock’s IBIT ETF has seen a significant increase in trading volume, reaching $1.1 billion, despite not experiencing any net inflows or outflows. This data comes from Coinglass and raises questions about the potential of IBIT to become a major institutional Bitcoin ETF.
In comparison, other Bitcoin ETFs like Fidelity’s FBTC and Bitwise’s BITB have seen substantial inflows, with FBTC receiving $48.8 million and BITB attracting $15.2 million. On the other hand, Grayscale’s GBTC has struggled with outflows, losing $30.3 million.
The total net inflows to BTC ETFs now stand at $14.4 billion, according to Farside data. This indicates a growing interest in Bitcoin ETFs among investors. Despite this, BlackRock’s IBIT stands out with its impressive trading volume, ranking 18th overall in trading volume among all US ETFs.
The fact that IBIT has achieved such high trading activity without any net inflows or outflows is noteworthy. It suggests that there is strong market interest in this ETF, even without new money coming in or existing money leaving. This could position IBIT as a key player in the institutional Bitcoin ETF market in the future.
Overall, the data shows a mixed picture for Bitcoin ETFs, with some seeing significant inflows while others struggle with outflows. Investors should be cautious and conduct their own research before investing in cryptocurrencies or related assets. Trading cryptocurrencies carries a high level of risk, and it is important to make informed decisions to avoid potential losses.