US Bitcoin ETFs hit 8-day winning streak as BlackRock logs $224M net inflows

US exchange-traded funds (ETFs) investing directly in Bitcoin (BTC) posted eight straight days of net subscriptions, drawing in about $202 million on Monday, data from Farside Investors shows. BlackRock’s iShares Bitcoin Trust (IBIT) outperformed its peers with around $224 million.

Franklin Templeton’s Bitcoin ETF (EZBC) and WisdomTree’s Bitcoin fund (BTCW) also posted net inflows at Monday’s close, each capturing around $5 million.

In contrast, competing funds managed by Fidelity, Bitwise, and VanEck reported negative flows. The rest saw zero investments.

Seven months after their landmark debut, the first spot Bitcoin ETFs in the US have seen a stabilization in both inflows and outflows compared to the initial trading period.

The Grayscale Bitcoin Trust (GBTC), which had historically been linked to massive outflows, has seen a decrease in redemptions over the past two weeks, according to Farside’s data.

IBIT has solidified its dominance in the Bitcoin ETF market with its consistently strong performance. The fund’s Bitcoin stash has exceeded 350,000 BTC, according to the latest update.

BlackRock’s confidence in Bitcoin ETFs is growing with investor appetite. The leading asset manager recently reported that its Strategic Global Bond Fund added 4,000 shares of IBIT, bringing its total holdings to 16,000 shares as of June 30.