BlackRock’s IBIT Bitcoin ETF Sees Record Inflows
BlackRock’s IBIT spot Bitcoin exchange-traded fund (ETF) has hit a new milestone, surpassing $15 billion in total inflows since its launch this year.
Strong Daily Inflows for BlackRock’s IBIT
- BlackRock’s IBIT experienced its highest daily inflow since April 5, with a total of $192.1 million coming in, bringing its total inflows to $15.1 billion, according to Farside data.
- ETF analyst Eric Balchunas from Bloomberg noted the extraordinary surge of over 50% that IBIT has seen in just three months, attracting $15 billion in new capital. This amount is double that of any other 421 BlackRock ETFs, showcasing its remarkable success in the market.
Comparison with Other U.S. Spot Bitcoin ETFs
- IBIT led the inflows for U.S. spot Bitcoin ETFs on the recent day, surpassing Grayscale’s GBTC fund, which saw outflows of $124.9 million. Bitwise’s BITB received $11.1 million in inflows, while Valkyrie’s BRRR and Fidelity’s FBTC attracted $8.4 million and $4.6 million, respectively.
- Overall, Thursday saw a daily net inflow of $91.3 million for all spot Bitcoin ETFs, with IBIT taking the lead.
BlackRock’s ETF Continues to Shine
BlackRock’s spot Bitcoin ETF has achieved significant growth, hitting an inflow milestone and increasing its visibility in the market through advertising efforts.
- Nate Geraci, President of The ETF Store, highlighted the rising visibility of iShares’ spot Bitcoin ETF ads, noting seven banner ads on the Bloomberg homepage. Despite being relatively early in the launch, competition in marketing is gaining traction.
- While spot Bitcoin ETF trading volume remained consistent at $2.5 billion, IBIT took the lead with $1.1 billion in trading. However, daily volume has decreased from the record high of $9.9 billion on March 5.
- Despite market fluctuations, BlackRock’s spot Bitcoin ETF has crossed $15 billion in assets under management and is nearing $20 billion in AUM.
Comparison with Other Funds
- GBTC currently holds 314,151 BTC, while IBIT holds 269,310 BTC, with a difference of 44,841 BTC between the two funds.
- Fidelity’s FBTC has surpassed 151,000 BTC ($10.7 billion) in assets, and ARK Invest 21 Shares’ ARKB has accumulated over 43,000 BTC ($3 billion). Combined, the new spot Bitcoin ETFs manage over 524,000 BTC in assets ($37 billion).
Hot Take: BlackRock’s IBIT ETF Continues to Soar
BlackRock’s IBIT Bitcoin ETF has seen remarkable success, attracting billions in total inflows and surpassing its competition in the market. As the ETF continues to gain momentum and assets under management, it reflects the growing interest in Bitcoin and cryptocurrency investments.
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