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 BlackRock’s IBIT ETF is closing in on Grayscale’s GBTC to become the world’s largest spot Bitcoin ETF (exchange-traded fund) after recording inflows for 69 consecutive days.
 Since its launch at the start of the year, IBIT ((iShares Bitcoin Trust) has not recorded a single day of outflows. 
 But GBTC (Grayscale Bitcoin Trust) has suffered a net outflow of $16 billion since January. IBIT’s ongoing inflows and GBTC’s persistent outflows have now narrowed the gap between the two funds to $2 billion.
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 iShares Bitcoin ETF now only $2bil behind Grayscale Bitcoin Trust…
 68 straight days of inflows for IBIT.
 68 straight days of outflows for GBTC.
 Wild how quickly this happened.
 via @kgreifeld pic.twitter.com/aG5uOVfM4V
 — Nate Geraci (@NateGeraci) April 19, 2024
 </blockquote>
 
 <h2 id="span-style-font-weight-400-fidelity-and-blackrock-gain-momentum-as-gbtc-loses-supremacy-span">Fidelity And BlackRock Gain Momentum As GBTC Loses Supremacy</h2>
 GBTC’s supremacy in the Bitcoin ETF market has been diminishing, while competitors BlackRock and Fidelity are growing their market shares at a rapid pace. Over the last week, $89.9 million left GBTC as Fidelity and BlackRock experienced respective net inflows of $37.7 million and $18.7 million during the same period.
 This trend continued at the end of last week. IBIT took in just under $30 million on Apr. 19, while Fidelity’s fund saw inflows of almost $55 million, according to Farside data.
 <img decoding="async" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%200%200'%3E%3C/svg%3E" alt="Bitcoin ETFs Explained: What Are They &amp; How Do They Work? - Unchained" data-lazy-src="https://cdn.thebittimes.com/images/2024/04/22/a7c3350312a5f2552d55e437aad4e13d.webp">
 <noscript><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/22/a7c3350312a5f2552d55e437aad4e13d.webp" alt="Bitcoin ETFs Explained: What Are They &amp; How Do They Work? - Unchained">
 </noscript>
 GBTC’s woes continued on the day as $45.8 million left the fund, still down compared to the $154.9 million outflows that it recorded the previous day.
 And Bloomberg ETF analyst Eric Balchunas sees huge potential ahead for IBIT.
 “IBIT now has about 60 holders reported but they only account for a tiny 0.4% of total shares out,” he said in a post on X. This shows that while investors are slowly investing into these funds, there is still a big pool of potential investors that could still buy into Bitcoin ETFs, Balchunas added.
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 Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/blackrock-s-ibit-closes-on-grayscale-as-world-s-largest-bitcoin-etf-after-69-days-of-inflows-tbt85989.html">https://thebittimes.com/blackrock-s-ibit-closes-on-grayscale-as-world-s-largest-bitcoin-etf-after-69-days-of-inflows-tbt85989.html</a>
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BlackRock’s IBIT Closes On Grayscale As World’s Largest Bitcoin ETF After 69 Days Of Inflows

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