BlackRock’s IBIT Sets New Record with $2 Billion in Net Inflows
According to data from BitMEX Research, BlackRock’s Bitcoin spot ETF, known as IBIT, has achieved a total net inflow of $2 billion. This milestone solidifies IBIT’s position as the top-performing fund among the 11 Bitcoin spot ETFs approved by the US Securities and Exchange Commission on January 10.
IBIT Leads with $170.7 Million in Inflows
On the tenth trading day of the Bitcoin spot ETF market, BlackRock’s IBIT saw positive performance with $170.7 million in inflows. This allowed the investment fund to become the first Bitcoin spot ETF to reach a market cap of $2 billion.
Bloomberg analyst James Seyfarrt attributes this achievement to the recent rise in BTC’s price. He stated that the increase in price has pushed IBIT’s assets beyond $2 billion.
IBIT Retains Investor Attention with Consistent Performance
Since its trading debut on January 11, IBIT has gained popularity among investors. It recorded the highest individual daily inflows at $386 million on January 12 and has continued to perform well over the first two trading weeks. As a result, IBIT has achieved a total flow of $2.086 billion.
Fidelity’s FBTC is another notable performer with $101 million in inflows on January 25, bringing its total flows to $1.825 billion. Bitwise’s BITB and Ark Invest’s ARKB also have impressive cumulative AUMs of over half a billion dollars each.
Grayscale’s GBTC Continues Outflows
While Bitcoin spot ETFs experience net inflows, Grayscale’s GBTC continues to see outflows. However, the selling volume has decreased in recent days. Currently, GBTC’s total outflow is valued at $4.786 billion compared to a cumulative inflow of $5.53 billion. The total flows in the Bitcoin spot ETF market stand at $744.6 million.
Bitcoin Price Shows Signs of Recovery
As of now, Bitcoin is trading at $41,725.19 following a 4.52% price gain in the past day. This recent uptick is significant considering the asset’s previous decline over the last two weeks. The positive performances of other ETFs, particularly BlackRock’s IBIT, coupled with decreasing selling pressure, suggest that Bitcoin could soon experience a market recovery.
Hot Take: BlackRock’s IBIT Dominates Bitcoin Spot ETF Market with $2 Billion Net Inflows
BlackRock’s Bitcoin spot ETF, IBIT, has achieved a significant milestone by surpassing $2 billion in net inflows. With consistent positive performances and investor attention, IBIT remains the top-performing fund among its peers. While other ETFs like Fidelity’s FBTC and Bitwise’s BITB also show notable inflows, Grayscale’s GBTC continues to experience outflows. However, the selling volume has decreased recently. As Bitcoin price shows signs of recovery after a period of decline, BlackRock’s IBIT could play a crucial role in driving market growth and attracting more investors to the cryptocurrency space.
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