Blackrock’s $50M Inflow Boosts Bitcoin ETF Market
Blackrock's Bitcoin ETF saw significant inflows on Tuesday, offsetting selling across five other funds. The company's IBIT fund attracted $50.2 million, more than enough to cover the combined withdrawals from these products and leave the category with a net inflow of $4.89 million.
The outflows were led by Franklin Templeton's EZBC, which saw a withdrawal of $16.46 million. ARK 21Shares' ARKB lost $11.55 million, while VanEck's HODL shed $10.30 million. Fidelity's FBTC posted a $4.13 million withdrawal, and Hashdex's DEFI lost another $2.87 million.
Blackrock's IBIT continues to dominate bitcoin ETF flows, with the fund's trading value reaching $1.42 billion and combined net assets closing at $77.46 billion. Ether ETFs, on the other hand, saw a narrower loss, but still recorded a net withdrawal of $1.76 million.
Interestingly, Hashdex's DEFI outflow came just over a week after the issuer announced plans to close and liquidate the fund. The timing has raised questions about whether some investors are choosing to exit before the liquidation process runs its course.