Spot Bitcoin ETFs Break 8-Day Outflow Streak with $28.6M Inflows

US spot Bitcoin ETFs have broken eight trading days outflows streak after attracting $28.6 million net inflow on Monday 9 September. During the eight days, the investment vehicles suffered a whooping net outflows of $1.2 billion. Last week alone, the 12 funds experienced negative flows of $706 million.

FBTC Leads the Pack 

According to SoSoValue, the major beneficiary on Monday was Fidelity Wise Origin Bitcoin Fund (FBTC), which received a single-day net inflow of $28.6 million. This brings the fund’s historical inflow to $9.45 billion. Although this cumulative inflow was higher late last month it was dragged down by $404 million outflows suffered last week.

Other beneficiaries include Bitwise Bitcoin ETF (BITB), ARK 21Shares Bitcoin ETF (ARKB), and Galaxy Bitcoin ETF (BTCO), which recorded single-day net inflows of $22 million, $6.81 million, and $3 million, respectively.

GBTC Sell-off Continues 

In contrast, Grayscale’s Bitcoin Trust (GBTC) saw a net outflow of $22.76 million, bringing its historical net outflow to $20.04 billion—the highest among the 12 funds. 

BlackRock’s iShares Bitcoin Trust (IBIT) saw a smaller outflow of $9 million. Despite this, BlackRock continues to lead its peers with a cumulative net inflow of $20.9 billion. The remaining six funds experienced zero flows for the day.

With the latest inflow, the 12 US spot Bitcoin ETFs now have a cumulative net inflow of $16.92 billion—down from $18 billion recorded last month. Moreover, the funds have a net asset value (NAV) of $51.31 billion, representing 4.56% of Bitcoin’s market cap.

In a recent X thread, CEO of Bianco Research Jim Bianco stated that spot Bitcoin ETFs have failed to live up to the hype and will need more time to mature. However, many disagreed with his statements, as spot Bitcoin ETFs are rated the fastest-growing ETFs in history.

BTC trades at $57,298 at press time, representing a mild 1% surge on the day.