BlackRock’s ETF Inflow Streak Continues
A significant milestone was reached on April 22 as BlackRock’s IBIT fund recorded a daily inflow of $19.7 million, marking its 70th consecutive day of inflows. This achievement has now catapulted BlackRock into the top ten of the longest daily inflow streaks for all US exchange-traded funds.
This feat ties BlackRock’s IBIT fund with JETS, an ETF that mixes shares in an index of airline industry companies, which also boasts a 70-day streak of inflows. According to Bloomberg ETF analyst Eric Balchunas, this remarkable trend highlights BlackRock’s commanding position in the ETF market.
- BlackRock’s IBIT fund hits 70 straight days of inflows
- Top ten longest daily inflow streak for US ETFs
BlackRock’s Dominance Amidst Market Fluctuations
While most ETFs experienced aggregate outflows during the trading days from April 12 to 18, BlackRock consistently maintained inflows, albeit at a reduced level compared to its average. The IBIT fund registered $111.7 million in inflows over the last five trading days, despite three of those days witnessing net outflows from all spot Bitcoin ETFs due to Grayscale’s GBTC shedding assets.
On April 22, the tide turned once again, with preliminary data from Farside Investors revealing a net inflow of $62.2 million, led by BlackRock. Additionally, Fidelity (FBTC) and ARK 21Shares (ARKB) saw notable inflows of $34.8 million and $22.6 million, respectively.
- BlackRock maintains inflows amidst market fluctuations
- Net inflow of $62.2 million on April 22
- Fidelity and ARK 21Shares also record significant inflows
Market Sentiment and Altcoin Performances
Following a weekend halving that saw Bitcoin (BTC) recover 5%, the cryptocurrency was trading up 1% at $66,300 during the Tuesday morning Asian trading session. Altcoins displayed mixed performances, with notable gains for Solana (SOL), Ripple (XRP), and Near Protocol (NEAR), while Toncoin (TON), Shiba Inu (SHIB), and Chainlink (LINK) recorded losses.
- Bitcoin’s post-halving recovery and current trading price
- Mixed performances among altcoins
BlackRock’s ETF Inflow Streak: A Testament to Market Dominance
In conclusion, BlackRock’s 70-day streak of daily inflows for its IBIT fund underscores the firm’s prowess in the ETF market, propelling it into the top echelons of US exchange-traded funds with commendable consistency. Despite market fluctuations and the performance of other ETFs, BlackRock has managed to maintain a remarkable streak of inflows, showcasing the confidence investors have in its offerings.
Hot Take: Stay Informed, Stay Ahead
As the cryptocurrency and ETF markets continue to evolve, staying informed about market trends and the performance of various assets is crucial for making informed investment decisions. Keep a close eye on developments in the ETF space, monitor market sentiment, and remain vigilant about the performance of both Bitcoin and altcoins to stay ahead of the curve in the ever-changing financial landscape.
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