$526.7 million in net inflows for U.S. spot Bitcoin ETFs on Monday—the biggest day since September 22.
The breakdown is less impressive: IBIT alone saw $665.2 million in inflows, while Fidelity’s FBTC saw $83.6 million in outflows and Grayscale’s GBTC saw $54.9 million in outflows. The entire market’s net inflows were carried by a single product.
The “total net inflows” metric now masks a reality: passive investment is becoming increasingly concentrated in the fund with the lowest fees and strongest distribution, rather than being spread evenly.
My read is that this single-point structure is more fragile than net outflows. If IBIT turns around, the total flips negative immediately, while the headlines still say “ETFs are buying.” When I watch the market, I’d rather track IBIT’s daily flows than that aggregated figure.
$BTC is now above $82,000. Do you think this wave of buying can push it past $84,000, or is this just another round of last-minute buying before month-end?
#U.SBitcoinETFNetInflows527Million
The breakdown is less impressive: IBIT alone saw $665.2 million in inflows, while Fidelity’s FBTC saw $83.6 million in outflows and Grayscale’s GBTC saw $54.9 million in outflows. The entire market’s net inflows were carried by a single product.
The “total net inflows” metric now masks a reality: passive investment is becoming increasingly concentrated in the fund with the lowest fees and strongest distribution, rather than being spread evenly.
My read is that this single-point structure is more fragile than net outflows. If IBIT turns around, the total flips negative immediately, while the headlines still say “ETFs are buying.” When I watch the market, I’d rather track IBIT’s daily flows than that aggregated figure.
$BTC is now above $82,000. Do you think this wave of buying can push it past $84,000, or is this just another round of last-minute buying before month-end?
#U.SBitcoinETFNetInflows527Million
