Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
Spot Bitcoin exchange-traded funds (ETFs) attracted significant inflows on Monday, totaling $294.29 million despite a dip in Bitcoin’s price.
BlackRock’s IBIT ETF stood out as a top performer, leading the inflows on October 21 with a remarkable $329.03 million, according to data from SoSo Value.
The fund has gained traction among investors seeking Bitcoin exposure, amassing over $1 billion in net inflows over the past week alone.
The surge has propelled the IBIT ETF into surpassing Vanguard’s Total Stock Market ETF in year-to-date inflows and securing the third spot overall, according to Bloomberg’s ETF analyst, Eric Balchunas.
$IBIT had one hell of a week, +$1.1b in new cash, best week since March, passed $VTI for 3rd place overall in YTD flows (insane for new launch, esp late in year, the rest of the top 5 is each over 20yrs and old and over $300b. $IBIT's aum is $26b which is in top 2% of all ETFs. pic.twitter.com/KX7eD3EzFP
While BlackRock’s IBIT ETF dominated the market, other ETFs also witnessed notable activity.
Fidelity’s FBTC fund reported $5.9 million in inflows on October 22, contributing to the broader trend of investor confidence in spot Bitcoin ETFs.
However, not all funds benefited from this influx. Several competing ETFs, including Bitwise’s BITB, ARK’s ARKB, VanEck’s HODL, and Grayscale’s GBTC, faced redemptions exceeding $40 million.
These funds, along with others, struggled to attract new investments during the day’s trading.
Investors continued to show confidence in these financial products even as the leading
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