BlackRock And Grayscale Own 2.96% Of Bitcoin Amid $202 Million Net Inflow

By: Eva Baxter

US-based Bitcoin ETFs saw a net inflow of $202.6 million on August 26, according to multiple data reports. This surge highlighted the growing interest and confidence from institutional investors in Bitcoin.

Managed by BlackRock, the IBIT ETF experienced a significant net inflow of $224.06 million on August 26, adding to its already impressive cumulative net inflow of $20.93 billion. Trading at a slight discount of 0.13% relative to its net asset value (NAV), IBIT holds a 1.81% share of Bitcoin. With a trading volume of $704.81 million, IBIT remains a dominant player in the Bitcoin ETF market, reflecting robust investor confidence and significant capital commitments.

In contrast, Grayscale's GBTC ETF showed no change in its net inflow on the same day. Despite its prolonged substantial outflows, with a cumulative net inflow of -$19.73 billion, GBTC trades at a slight premium of 0.02% and holds a 1.15% share of Bitcoin. Its trading volume was recorded at $141.54 million, indicating continued interest from investors despite its historic outflows.

Similarly, Fidelity's FBTC Bitcoin ETF observed a net outflow of $8.33 million on August 26, reducing its cumulative net inflow to $9.88 billion. The ETF trades at a 0.22% discount to its NAV and maintains a 0.91% share of Bitcoin. Nonetheless, the fund remains active, with a trading volume of $164.37 million, illustrating its resilience amidst market fluctuations.

The ARKB ETF from Ark's 21Shares reported no net inflow or outflow on August 26, with its cumulative net inflow steady at $2.53 billion. This ETF trades at a 0.23% discount relative to its NAV and holds a 0.24% share of Bitcoin. ARKB's trading volume of $69.43 million reflects stable market activity, maintaining its position without significant shifts.

Bitwise-managed BITB ETF faced a net outflow of $16.61 million on August 26, yet its cumulative net inflow remains positive at $2.03 billion. Trading at a 0.29% discount to its NAV, BITB holds a 0.19% share of Bitcoin, with a trading volume of $56.23 million, indicating moderate market engagement compared to its peers.

In summary, BlackRock's IBIT and Grayscale's GBTC own a combined 2.96% of the circulating Bitcoin supply. This ownership underscores the increasing involvement of institutional players in the cryptocurrency market, driving significant inflows into Bitcoin-related investment products.