U.S. spot bitcoin exchange-traded funds celebrated their ninth consecutive day of positive inflows, accumulating a hefty $107.9 million on Thursday. Leading the charge was Blackrock’s IBIT, raking in $89 million, while Grayscale’s bitcoin trust (GBTC) witnessed $14 million flowing out.
The gap between IBIT and GBTC reserves has noticeably narrowed. Spot bitcoin ETFs enjoyed a consistent week of steady inflows, recording $107.9 million on Thursday, following the previous day's $154 million. This marked the ninth consecutive day of inflows, pushing the total for U.S. bitcoin ETFs to $1.753 billion. Blackrock’s IBIT amassed $89 million, boosting its BTC reserve to 284,525.85 BTC.
Fidelity’s FBTC fund saw a $19 million increase, while HODL, BTCO, and ARKB experienced more modest inflows. These inflows propelled FBTC’s BTC reserve to approximately 160,620 BTC by Friday morning. ARKB’s $2 million inflow lifted its reserve balance to 48,414 BTC. Meanwhile, Bitwise’s BITB maintained a neutral position on Thursday, with reserves standing at 36,092.44 BTC.
GBTC recorded $14 million in outflows on Thursday, shrinking its reserve to 289,256.93 BTC. This positions Blackrock’s IBIT just 4,731.08 BTC, or $319 million, shy of matching GBTC’s holdings. This tight competition hints at IBIT possibly surpassing GBTC by next week. Consequently, GBTC likely removed the claim of being “the world’s largest bitcoin ETF” from its website for that reason.
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