US spot Bitcoin exchange-traded funds (ETFs) have achieved a continuous streak of six days with positive returns, attracting nearly $65 million in investments on Thursday. The iShares Bitcoin Trust (IBIT) from BlackRock received the highest amount of fresh capital, totaling $75 million.
Other funds, such as WisdomTree’s Bitcoin fund, Grayscale’s Bitcoin Mini Trust, and VanEck’s Bitcoin ETF, garnered more than $12 million. Grayscale’s Bitcoin Trust (GBTC), which has the highest management costs among Bitcoin products available in the US, witnessed outflows of more than $28 million on Thursday.
Nevertheless, significant capital outflows have diminished in the last fourteen days, reaching a minimum of around $10 million in withdrawals from GBTC.
Due to the decrease in outflows from GBTC and the continuous influx of money into other Bitcoin ETFs, the collection of US spot Bitcoin funds has seen a stable increase in inflows for six straight trading days, resulting in a total of nearly $250 million in net inflows this week.
BlackRock’s assertive acquisition of Bitcoin has increased its overall holdings to more than 350,000 BTC, establishing the firm as the third-largest holder globally.
IBIT has attracted the attention of prominent companies, including Morgan Stanley and Goldman Sachs. Morgan Stanley has disclosed its ownership of about $187 million in IBIT, while Goldman Sachs has made a significant investment in US-spot Bitcoin ETFs, including approximately $238 million in IBIT.
