Daily Inflows into Bitcoin ETFs Reach Record Level

On February 13, the inflow of assets into spot Bitcoin exchange traded funds (ETFs) reached $631.2 million, making it the second-highest daily increase after the first day of trading, which saw a total inflow of $655.2 million.

This represents a daily increase of 12,736 bitcoins in assets under management (AUM). BitMEX Research experts noted that $493 million of this total can be attributed to the BlackRock fund, which holds 9943 BTC, while the Grayscale exchange-traded bitcoin fund, which was previously a trust established in 2015, has been steadily losing capital.

Since converting to an ETF on January 11, over $6.5 billion (~156,300 BTC) has been withdrawn from the fund, leaving it with approximately $29 billion in AUM.

Despite increasing competition in the market, Grayscale continues to maintain a commission rate of 1.5%, compared to the zero rate offered by most competitors.