Bitcoin ETFs offered by Bitwise and Fidelity have received higher day-one inflows compared to their competitors, according to initial data from Bloomberg Intelligence. Bitwise and Fidelity saw net inflows of $238 million and $227 million, respectively, while BlackRock’s iShares Bitcoin Trust (IBIT) received $112 million in net flows. However, Grayscale Investments’ Bitcoin Trust ETF (GBTC) experienced net outflows of approximately $95 million. Industry experts had predicted that GBTC, with its higher fee of 1.5%, would see outflows over time. Despite the initial inflows, analysts believe that the first-day trading activity in bitcoin ETFs was largely short-term, and they anticipate more substantial inflows in the coming weeks or months.
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Bitcoin ETF asset race: Bitwise, Fidelity snag flow lead while money leaves GBTC
