BlackRock and Fidelity Bitcoin Funds See Billions in Inflows While Grayscale's GBTC Faces Outflows
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BlackRock's Bitcoin Trust (IBIT) has attracted over $1 billion in inflows, leading among new spot bitcoin ETFs after 1 week of trading.
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Fidelity's Bitcoin Fund (FBTC) has seen the next largest inflows at over $600 million.
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Grayscale's Bitcoin Trust (GBTC) has seen outflows of around $1.6 billion but still dominates with $23.7 billion in assets.
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Investors are weighing costs and track records of new spot bitcoin ETFs compared to GBTC's higher fees but longer history.
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GBTC has defended its higher fees based on scale, track record, investor base; other ETFs use lower fees to incentivize new investors.