According to CryptoPotato, four Bitcoin exchange-traded funds (ETFs) have secured positions among the largest 30 asset funds within their first 50 days on the market. Bloomberg senior ETF analyst Eric Balchunas highlighted that BlackRockâs IBIT, Fidelityâs FBTC, Ark Investâs ARKB, and Bitwiseâs BITB managed to climb among the top 30 ETF assets globally within their first 50 days of trading. Even Bitwiseâs BITB is presently ranked 18th in assets under management, exceeding the worldâs largest SPDR Gold Shares (GLD) fund.
On March 26, Fidelityâs fund witnessed its largest daily inflow since March 13, worth $279.1 million, adding 4,000 BTC to its holdings. This marked the firmâs second consecutive day of inflows exceeding $260 million. Meanwhile, BlackRockâs fund saw inflows of $162.2 million, which is lower than earlier in the month when daily inflows averaged over $300 million. The Ark 21Shares Bitcoin ETF fund had its best day since March 12, with inflows totaling $73.6 million, while Bitwiseâs BITB saw inflows amounting to $16.7 million. Other funds, such as Invesco Galaxy, Franklin Templeton, and Valkyrie, also observed significant inflows exceeding $26 million each.
Data from Farside Investors indicates that the ten approved spot Bitcoin ETFs collectively had a substantial net inflow of $418 million on March 26. In contrast, Grayscaleâs Bitcoin Trust (GBTC) remained in a state of negative flows, with daily outflows reaching $212 million. However, the net inflows from its competitors surpassed GBTCâs outflows. Since transitioning to an ETF on January 11, Grayscale has seen significant outflows totaling 277,393 BTC, approximately $19.5 billion at current market prices. On the other hand, Bitcoin has remained steady around the $70,000 mark amid news that the London Stock Exchange intends to introduce Exchange-Traded Notes (ETNs) for BTC and ETH in May. The decision follows the exchangeâs earlier announcement regarding accepting applications for crypto ETNs in the yearâs second quarter. In a recent report, crypto asset trading firm QCP Capital noted that asset managers increasingly allocate to Bitcoin for portfolio diversification. In addition, there has been a surge in requests for structured products like Accumulators and FCNs, indicating an increased appetite for diversifying investment portfolios with Bitcoin.