BlackRock’s Bitcoin ETF Extends Its Inflow Streak

BlackRock, Bitwise, and Ark were able to offset Grayscale's outflows

On Tuesday, Bitcoin ETFs managed to record $31.6 million of net flows, according to the latest data provided by London-based investment management firm Farside Investors. 

#BlackRock’s IBIT managed to extend its streak of inflows, recording 71 days in the green. Interestingly enough, the ETF managed to attract the same amount of assets under management as the Gold ETF (GLD) did in 808 days.   

Earlier this month, IBIT joined an exclusive club of ETFs with 70 days of interrupted growth. This club includes such names as the JPMorgan Equity Premium Income ETF.  

It is worth noting that BlackRock also broke the record as the fastest ETF to reach $10 billion in assets under management, outpacing the gold ETF by a large margin back in March.      

Ark's ARB and Bitwise's BITB also saw decent inflows ($33.3 and $23.3, respectively). 

Fidelity's $4.4 saw relatively modest inflows of just $4.4 million, lagging behind its competitors after recently breaking its streak of uninterrupted daily inflows. 

In the meantime, Grayscale's GBTC saw significant outflows that approached $67 million. 

Hong Kong's cryptocurrency ETFs 

At the same time, Hong Kong is set to launch a slew of spot Bitcoin and #Ethereum✅ ETFs. They are on track to start trading by the of this month, according to a report by Bloomberg.  

As reported by @WISE CRYPTO NEWS , Eric Balchunas, senior ETF analyst at #Bloomberg Intelligence, recently predicted that Hong Kong's crypto #ETFs would have low demand due to the lack of significant players and relatively low liquidity.       

#bitcoinhalving