US spot Bitcoin Exchange-traded funds (ETFs) are witnessing renewed interest from investors, with significant inflows observed over the past few days. According to data from Farside Investors, the 10 recently approved spot Bitcoin ETFs collectively attracted a total of $418 million in net inflows on March 26. Notably, this surge in capital influx is primarily attributed to heavy investments from BlackRock and Fidelity funds.
Fidelity's funds, in particular, experienced a substantial increase in inflows, reaching $279.1 million on March 26, marking their largest single-day inflows since March 13. This trend continued for the second consecutive day, with the investment giant acquiring an additional 4,000 Bitcoins. Similarly, BlackRock's funds saw significant inflows amounting to $162.2 million, although these daily inflows remain below the average witnessed earlier this month.
Among the ETFs, the Ark 21Shares Bitcoin ETF recorded its most successful day since March 12, with inflows totaling $73.6 million. Other ETFs such as Invesco Galaxy, Franklin Templeton, and Valkyrie also witnessed notable inflows, each exceeding $26 million. Despite these positive developments, Grayscale’s Bitcoin Trust (GBTC) continues to experience outflows, with daily losses amounting to $212 million. However, this has not been sufficient to surpass the net inflows observed by its competitors.
Since its transition from a trust to an ETF on January 11, Grayscale has sold a significant amount of Bitcoins, totaling 277,393 BTC, valued at approximately $19.5 billion at current market prices. Eric Balchunas, senior ETF analyst at Bloomberg, emphasized the dominance of Bitcoin ETFs in the global funds landscape, noting their unparalleled performance compared to traditional investment vehicles like SPDR Gold Shares (GLD). Additionally, the conversion of futures funds into spot products by Hashdex further expands the range of spot Bitcoin ETF options available in the United States, positioning it as the 11th spot Bitcoin ETF issuer in the country.
