The position of BlackRock’s Bitcoin ETF could have been higher had it not missed the first seven trading days on the NASDAQ while it awaited approval from the SEC.

BlackRock’s iShares Bitcoin exchange-traded fund (ETF) has made it into the top 0.16% of all United States-issued ETF products.

The spot Bitcoin ETF has topped $3.19 billion in flows, according to Feb. 5 data from Senior Bloomberg ETF analyst Eric Balchunas, being surpassed only by broad index funds tracking the S&P 500 and Vanguard’s Total Stock Market ETF.

According to data from YCharts, BlackRock’s ETF flows so far place it in the top 0.16% of ETFs when weighed against the 3,109 ETFs currently trading in the United States.

Balchunas arrived at a slightly different figure of 0.02% — a figure that appears to measure BlackRock’s ETF performance against an estimated 10,000 ETFs worldwide.

Fidelity’s Bitcoin Fund is also a top performer with $2.51 billion — placing it eighth among U.S.-based ETF products.

The BlackRock and Fidelity Bitcoin ETFs continue to climb the list, having stood at eighth and 10th position at the end of January.

It’s worth noting that while the total flows of other U.S. ETFs are being counted from Jan. 1, 2024, spot Bitcoin ETF products were only approved for trading on Jan. 11. This means that the Bitcoin ETFs are at a seven-trading-day handicap when compared to all other products.

BitMEX Research data shows a widening gap between BlackRock and Fidelity’s spot Bitcoin ETFs against the seven other spot Bitcoin ETFs (excluding Grayscale) in flow.

ARK 21Shares and Bitwise are third and fourth among spot Bitcoin ETFs, with $683.7 million and $663.6 million in accumulated flows, according to Feb. 5 data from BitMEX Research.

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Invesco, Galaxy, and Valkyrie are the other spot Bitcoin ETF issuers that have recorded over $100 million in total flow, while WisdomTree remains in last place with just $11.1 million.

As of the time of publication, net flows into all ten spot Bitcoin ETFs stand at $1.5 trillion since the products first began trading.

Outflows from Grayscale continue to shrink

Meanwhile, Grayscale’s converted spot Bitcoin ETF recorded its sixth successive day of shrinking outflows at $73 million on Feb. 6, according to BitMEX Research and Bloomberg ETF analyst James Seyffart.

Inflows from the other Bitcoin ETF issuers are now consistently outpacing outflows from Grayscale’s GBTC for at least seven consecutive days.

The latest figure is down 88% from Grayscale’s worst day of outflows on Jan. 22, which saw $640 million leave the newly converted ETF.