BlackRock’s iShares Bitcoin Trust (IBIT) outperformed its ETF peers on Monday, attracting about $205 million in net inflows, while the rest of the market reported either losses or no net inflows, according to Farside Investors.
On Monday, U.S. spot bitcoin ETFs collectively attracted about $124 million in net inflows, with all of the gain coming from BlackRock’s IBIT.
In contrast, Grayscale GBTC, Bitwise BITB, and Fidelity FBTC experienced net outflows of $54 million, $21 million, and $6 million, respectively. Other competing funds reported zero inflows.
The Bitcoin ETF market will soon welcome Grayscale’s Bitcoin Mini Trust (BTC), a newly approved mini version of the Grayscale Bitcoin Trust. The spinoff offers a competitive advantage with a management fee of 0.15%, significantly lower than the 1.5% charged by GBTC.
Starting July 31, Grayscale will transfer 10% of GBTC assets to the Mini Trust, and GBTC shareholders will receive proportional shares in the new fund. With the new BTC fund, Grayscale aims to provide investors with a lower-cost option to access Bitcoin through Grayscale investment products.
BTC’s lower fees will make it a strong contender in the Bitcoin ETF market. Grayscale’s GBTC, once a dominant player, has lost its edge after converting to an ETF. As of July 29, GBTC had $18.1 billion in assets under management (AUM), surpassing BlackRock’s IBIT with nearly $23 billion in AUM.
BlackRock’s Ethereum Spot ETF Sees $500M Inflow
On Monday, the BlackRock iShares Ethereum Trust (ETHA) reported net inflows of $58 million, bringing According to Farside Investors, the total investment inflow will amount to $500 million.
After a rocky start, U.S. spot Ethereum products entered their second week of trading as investors brace for aggressive outflows from the Grayscale Ethereum ETF (ETHE). With $210 million pulled from the fund on Monday, ETHE has lost about $1.7 billion since its conversion to an ETF.
In addition to BlackRock’s ETHA, the other five Ethereum ETFs that posted gains were Fidelity’s FETH, VanEck’s ETHV, Bitwise’s ETHW, Franklin Templeton’s EZET, and Grayscale’s ETH.
Generally, new Ethereum funds ended Monday with net outflows of about $98 million.
