BlackRock's Bitcoin ETF Experiences Smallest Inflow, Yet Continues Growth

By: Eva Baxter

Detailed Overview

Data from reputable investors shows that BlackRock IBIT, a spot Bitcoin ETF, recorded a net inflow of $33 million on Feb 6 - its smallest net inflow to date. Despite this, the net inflows continued for the eighth consecutive trading day, extending the total net inflow to an impressive $3.2 billion.

However, Grayscale Bitcoin Trust (GBTC) reported yet another day of outflows, this time amounting to $73 million, thereby bringing the total estimated outflows to $6.15 billion. Despite the continued outflows, this volume is reported as the lowest yet recorded in any trading day.

Despite reducing net inflows, these ETFs showcase durability, with cumulative net inflows touching $1.56 billion. The continuation of such trends is under scrutiny and worth observing.

Note: The original data mentioned in this article is sourced from major crypto market analysts.