Bittime - The Bitcoin ETF market has seen a series of significant inflows, with BlackRock's iShares Bitcoin Trust ETF (IBIT) leading the charge.
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US Securities and Exchange Commission (SEC)
Since getting approval from the US Securities and Exchange Commission (SEC) on January 10, the ETF market has experienced more than three months of trading.
However, BlackRock stands out as the leader with an impressive inflow streak of 69 consecutive days, almost breaking a new record.
Bloomberg ETF expert Eric Balchunas highlighted this achievement, emphasizing the growing interest in BlackRock's Bitcoin ETF and the overall adoption of the market's largest cryptocurrency.
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BlackRock’s Bitcoin ETF Nears Top 10 List
BlackRock's Bitcoin Trust ETF has consistently attracted inflows for 69 consecutive days, nearly hitting a new record. Balchunas pointed out that the ETF will enter the top ten list with just one more day of inflows and will match the record with the airline's JETS ETF.
Inflow data shows that IBIT had an average inflow of $223.4 million during April. Data from Farside shows that this ETF recorded a maximum inflow of $849 million and a minimum of $18 million.
Compared to its closest competitor in the Bitcoin ETF race, Fidelity’s FBTC ETF, saw an average of $118 million in inflows in April, with a maximum of $473 million.
It's worth noting that the Fidelity ETF experienced zero inflows for three days in April (April 12, 15, and 17). Meanwhile, most of the other eight ETFs recorded zero inflows for more than eight days in April, indicating strong investor interest in the Fidelity and BlackRock Bitcoin ETFs.
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Grayscale Bitcoin Trust (GBTC)
In contrast, the Grayscale Bitcoin Trust (GBTC) experienced significant outflows over the past three months, losing nearly 300,000 Bitcoins. In April alone, GBTC recorded total outflows exceeding $1.6 billion. On the other hand, BlackRock's Bitcoin ETF has received similar Bitcoin inflows over the same period.
In the context of these developments, Grayscale appears to be taking steps to improve performance and inflows into the company's assets under management (AuM).
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Grayscale Introduces “Mini Bitcoin ETF” with Low Fees
Grayscale has revealed plans to launch a new version of its GBTC fund, the “Mini Bitcoin ETF,” with ultra-low fees of 0.15%. According to Grayscale's latest filing, these fees are expected to be the lowest among all available spot Bitcoin ETFs.
The move can be considered a strategic response to Grayscale's recent challenges, including the absence of inflows into its flagship product due to the current high fees of 1.5%.
Bitcoin Mini Trust
With the upcoming launch of the Bitcoin Mini Trust, which offers competitive fees of 0.15%, Grayscale aims to regain its popularity among investors.
Currently, Franklin Bitcoin ETF (EZBC) holds the title for lowest-cost Bitcoin ETF, with fees of 0.19%.BTC is trading at $66,300, up 2% in the last 24 hours.
How To Buy Bitcoin (BTC) With Bittime
You can buy and sell Bitcoin (BTC) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Bitcoin (BTC) is available on Bittime with BTC IDR pairing.
To be able to buy BTC tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet . For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn How to Buy Bitcoin (BTC) on Bittime.
Monitor price chart movements of Bitcoin (BTC), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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