Bitcoin spot exchange-traded funds (ETFs) saw a modest recovery with a net inflow of $18.44 million following recent outflows. Despite the quiet trading day, BlackRock’s IBIT continued to dominate inflows, while Ark and 21Shares’ ARKB faced notable withdrawals.
Bitcoin ETFs See Mixed Inflows and Outflows
According to data from Sosovalue, the total net inflow for U.S. spot bitcoin ETFs reached $18.44 million on January 28. However, only two ETFs recorded movement:
- BlackRock’s IBIT led with $30.14 million in inflows.
- Ark and 21Shares’ ARKB saw $11.7 million in outflows.
The remaining ten spot bitcoin ETFs remained neutral, with no inflows or outflows recorded.
Total Market Performance and Net Inflows
The total value of assets traded across all bitcoin spot ETFs on Tuesday, January 28, stood at $2.49 billion. The cumulative net inflow for bitcoin ETFs has now increased slightly to $39.5 billion.
Among the top-performing ETFs:
- BlackRock’s IBIT dominates with a cumulative net inflow of $39.82 billion, over three times that of Fidelity’s FBTC ($12.77 billion).
- Other ETFs surpassing the billion mark include:
- ARKB: $2.9 billion
- BITB (Bitwise): $2.33 billion
- GBTC (Grayscale): $1.12 billion
ETF Market Share and Bitcoin’s Growing Institutional Presence
The ETF net asset ratio, which measures the market value of bitcoin ETFs relative to bitcoin’s total market cap, stood at 5.91%. The total net asset value of all spot bitcoin ETFs reached $118.62 billion, reflecting the increasing institutional adoption of the digital asset.
Ether ETFs See No Trading Action
While bitcoin ETFs experienced movement, the nine U.S. spot ether ETFs remained dormant on January 28, recording zero inflows or outflows. This stagnation signals a lack of immediate investor interest in ether ETFs compared to bitcoin.
Despite recent volatility, bitcoin ETFs are steadily gaining traction, with BlackRock’s IBIT leading the charge. As institutional investors continue to explore digital assets, the ETF market’s role in mainstream crypto adoption is becoming increasingly significant. However, with ether ETFs showing little activity, investor sentiment towards alternative crypto ETFs remains uncertain.
