BlackRock iShares Bitcoin Trust Ranks Among Top ETFs in Inflows
The BlackRock iShares Bitcoin Trust (IBIT) has become one of the leading exchange-traded funds (ETFs) in terms of inflows, according to Bloomberg Intelligence data. With over $3.19 billion in flows, the IBIT has outperformed many established funds and is now among the top five ETFs, trailing only broad index funds such as those tracking the S&P 500 and the Vanguard Total Stock Market ETF.
BlackRock’s Bitcoin ETF Achieves Impressive Standing
Despite a delayed start on NASDAQ due to SEC approval, the BlackRock ETF now ranks in the top 0.16% of all 3,109 ETFs trading in the United States. When compared globally against an estimated 10,000 ETFs, it stands at an even more impressive 0.02%, as highlighted by Eric Balchunas, a senior Bloomberg ETF analyst.
Fidelity Bitcoin Fund Shows Strong Performance
The Fidelity Bitcoin Fund has also seen significant inflows, with $2.51 billion invested in it. This places it eighth among U.S.-based ETF products. Both BlackRock and Fidelity Bitcoin ETFs have improved their rankings recently, moving up from eighth and tenth positions respectively at the end of January.
iShares Core S&P 500 ETF Leads Overall Inflows
Among all ETFs, the iShares Core S&P 500 ETF (IVV) holds the top position with $13 billion in inflows this year and an assets-under-management (AUM) of $428 billion. The Vanguard 500 Index Fund ETF (VOO) follows closely behind with $11.1 billion in inflows and nearly $398 billion in AUM.
Grayscale’s Bitcoin ETF Outflows Decrease
Grayscale’s spot Bitcoin ETF has experienced a sixth consecutive day of decreasing outflows, totaling $73 million on February 6. Inflows from other Bitcoin ETF issuers have consistently exceeded the outflows from Grayscale’s GBTC for at least seven days. The recent outflow figure represents an 88% decline from the peak outflow day on January 22, which saw $640 million leaving the newly converted ETF.
Spot Bitcoin ETFs Gain Enthusiasm in Market Entry
The launch of spot Bitcoin ETFs generated significant enthusiasm, particularly in their first week after their debut on January 11. During that time, there was a net inflow of $1.06 billion. These ETFs currently manage over 100,000 BTC, valued at approximately $4 billion when excluding Grayscale’s Bitcoin Trust (GBTC).
Hot Take: BlackRock iShares Bitcoin Trust Surges to Top Ranks
The BlackRock iShares Bitcoin Trust (IBIT) has quickly climbed the ranks to become one of the top-performing exchange-traded funds (ETFs) in terms of inflows. With over $3.19 billion invested, the IBIT now competes with well-established funds and is among the top five ETFs overall. Additionally, BlackRock’s delayed start on NASDAQ did not hinder its success, as it now stands among the top 0.16% of all ETFs trading in the United States. This impressive performance solidifies BlackRock’s position as a leader in the cryptocurrency investment space.
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