IBIT Drives Net Inflows Across Spot Bitcoin ETFs

Spot Bitcoin exchange-traded funds recorded net inflows across all tracked periods on April 23, with total category flows of $335.82 million over one day, $1.28 billion over one week, $2.16 billion over one month, $1.85 billion over three months and $1.85 billion year-to-date.

BlackRock’s iShares Bitcoin Trust (IBIT) led the gains. IBIT reported $246.88 million in one-day inflows, $907.97 million over one week, $1.92 billion over one month, $2.17 billion over three months and roughly $3.08 billion year-to-date.

Fidelity’s Wise Origin Bitcoin Fund (FBTC) recorded $56.69 million in one-day inflows and $170.92 million over one week. Several smaller funds-Bitwise Bitcoin ETF (BITB), ARK 21Shares Bitcoin ETF (ARKB), Vaneck Bitcoin Trust (HODL), Invesco Galaxy Bitcoin ETF (BTCO) and Franklin Bitcoin ETF (EZBC)—posted modest positive flows across multiple periods.

Grayscale Bitcoin Trust (GBTC) showed outflows, with $16.56 million leaving in one day, $77.08 million over one week, $255.86 million over one month and $960.43 million year-to-date.

Analyst Eric Balchunas wrote on April 23 that the ETF category had turned positive across every rolling period he tracks and described the group as “back in the high life.” He added that IBIT’s year-to-date inflows place it among the largest ETFs by inflows and that the category still needs several billion dollars more to surpass its prior cumulative lifetime net flows peak of $62.8 billion.