tl;dr
The Bitcoin ETF market, particularly BlackRock’s iShares Bitcoin Trust ETF, has seen significant activity with 69 consecutive days of inflows, nearing a potential new record. In April, IBIT achieved an average inflow of $223.4 million, with Fidelity’s FBTC ETF as the runner-up. Conversely, Grayscale...
The Bitcoin ETF market, particularly BlackRock’s iShares Bitcoin Trust ETF, has seen significant activity with 69 consecutive days of inflows, nearing a potential new record. In April, IBIT achieved an average inflow of $223.4 million, with Fidelity’s FBTC ETF as the runner-up. Conversely, Grayscale's Bitcoin Trust experienced substantial outflows, prompting the introduction of a low-fee "Mini Bitcoin ETF" in a strategic move to regain investor interest and address challenges.
BlackRock’s iShares Bitcoin Trust ETF has consistently attracted inflows for 69 consecutive days, inching closer to a new record. The ETF will enter the top 10 list with just one more day of inflows and tie with the airline JETS ETF. Delving into the inflow data, IBIT has witnessed an average inflow of $223.4 million during April trading, with a maximum of $849 million and a minimum of $18 million. In comparison, the runner-up Fidelity’s FBTC ETF experienced an average inflow of $118 million in April, with a maximum of $473 million. It is worth noting that Fidelity’s ETF experienced zero inflows for three days in April (April 12th, 15th and 17th).
Meanwhile, Grayscale Bitcoin Trust (GBTC) experienced significant outflows over the past three months, losing almost 300,000 Bitcoin. In April alone, GBTC recorded total outflows exceeding $1.6 billion. On the other hand, BlackRock’s Bitcoin ETF has gained similar Bitcoin inflows during the same period.
Grayscale has revealed plans to launch a new spin-off version of its GBTC fund, a “Mini Bitcoin ETF,” with a significantly reduced fee of 0.15%. According to Grayscale’s latest filing, this fee is expected to be the lowest among all available spot Bitcoin ETFs. With the forthcoming launch of the Bitcoin Mini Trust, which features a competitive 0.15% fee, Grayscale aims to regain its popularity among investors. Presently, the Franklin Bitcoin ETF (EZBC) holds the title for the lowest-cost Bitcoin ETF, with a fee of 0.19%.
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