The fight for the title of the best BTC ETF continues. At the moment, the leader is the BTC ETF from BlackRock, which reached the top 0.2% among all BTC-based funds. It is worth adding that the position of Czarna Skala's bitcoin fund could have been even higher if BlackRock had not missed the first seven days of trading on NASDAQ while waiting for SEC approval.
BTC ETF from BlackRock is going like a storm
A wave of optimistic tsunami swept through the cryptocurrency market right after the long-awaited approval of BTC ETF applications by the SEC. Later, a significant correction began. Nevertheless, we can see not only calm waters on the horizon, but above all a new leader. BlackRock's BTC ETF was in the top 0.16% of all ETF funds in the United States market.
The Bitcoin ETF achieved inflows of over $3.19 billion. This fact Eric Balchunas confirms, senior analyst at Bloomberg. The data comes from February 5 and shows that BlackRock's BTC ETF is currently outperformed only by index funds tracking the S&P 500 and Vanguard's Total Stock Market ETF. Everything indicates that the BTC ETF from BlackRock is a definite success for both corporations and investors. But could you expect something different from a corporation managing over USD 9 trillion?
Meanwhile, Grayscale continues to sink
Not all BTC-based spot ETFs perform as well as this black-rock one. Grayscale's BTC ETF saw another day of outflows of $73 million. This is shown by data from BitMEX Research and confirmed by Bloomberg ETF analyst James Seyffart.
The latest figure is 88% below Grayscale's worst day of outflows, which occurred on January 22 and amounted to $640 million. Will the situation of Grayscale's BTC ETF change in the next weeks? The chances of this happening are quite slim, considering the fact that the competition's offer is much more attractive.
