Source: bitcoinist
Compiled by: Blockchain Knight
There has been a clear trend of capital inflows in the BTC ETF market, with BlackRock’s iShares IBIT leading the way.
The ETF market has been trading for more than three months since it was approved by the SEC (U.S. Securities and Exchange Commission) on January 10.
Among them, BlackRock stands out with an impressive 69 consecutive days of capital inflows, which is about to set a new record .
Bloomberg ETF expert Eric Balchunas highlighted the growing market interest in BlackRock’s BTC ETF and overall adoption of the largest Crypto asset.
BlackRock's iShares Bitcoin Trust ETF has attracted inflows for 69 consecutive days, getting closer to a new record.
Balchunas noted that the ETF only needs one more day of inflows to move into the top 10, on par with the airline JETS ETF .
Looking at the fund inflow data, IBIT's average fund inflow in April transactions was $223.4 million.
Farside data shows that the ETF has seen a maximum inflow of $849 million and a minimum inflow of $18 million .
In comparison, Fidelity’s FBTC ETF came in second with average inflows of $118 million and maximum inflows of $473 million in April.
But it’s worth noting that Fidelity’s ETFs had zero inflows on three days in April (April 12, 15, and 17).
Meanwhile, eight other ETFs saw zero inflows for more than eight days in April, highlighting investors’ strong interest in Fidelity and BlackRock’s BTC ETFs .
In contrast, the Grayscale BTC Trust (GBTC) has experienced massive outflows over the past three months, losing nearly 300,000 BTC.
In April alone, GBTC’s total outflows exceeded $1.6 billion. On the other hand, BlackRock’s BTC ETF received similar BTC inflows during the same period.
In light of these developments, Grayscale appears to be taking actions to boost performance and inflows to the firm’s assets under management (AuM) .
Grayscale has revealed plans to launch a new spin-off version of its GBTC fund, the “Mini BTC ETF,” with fees significantly reduced to 0.15%. According to Grayscale’s latest filing, this fee is expected to be the lowest among all spot BTC ETFs.
The move can be seen as a strategic response to the recent challenges Grayscale has faced, including a lack of inflows into its flagship product due to its currently high fees of 1.5%.
Grayscale is hoping to win back investor favor with the upcoming launch of the Bitcoin Mini Trust, which will have a competitive fee of 0.15% .
Currently, the Franklin BTC ETF (EZBC) is the lowest-cost BTC ETF with a fee of 0.19%.
