Bitcoin ETFs Receive $700M Inflows As GBTC Outflows Slow

Last week, Bitcoin investment vehicles received over $700 million in new funds, with inflows to new spot Bitcoin ETFs offsetting the outflows from Grayscale's GBTC. BlackRock's IBTC and Fidelity's FBTC were the clear leaders among the newly issued spot Bitcoin ETFs, receiving $884 million and $674 million in weekly inflows, respectively. Meanwhile, investors withdrew $927 million from GBTC, a significant drop from the previous week's $2.2 billion. The new Bitcoin ETFs have amassed $7.7 billion in funds, more than offsetting the $6 billion outflows from incumbents.