Reached a record $15 billion in investments for BlackRock’s iShares Bitwise Bitcoin ETF during its trading tenure, which started on January 11.
Since reaching a high of $1.05 billion in daily inflows on March 12, the rate at which Bitcoin spot ETFs have been receiving new investments has been slowing down.
BlackRock’s IBIT Daily Inflows Surge
On April 5, BlackRock’s IBIT experienced its biggest one-day investment of $192.1 million, adding up to a grand total of $15.1 billion in inflows as per Farside’s records.
Eric Balchunas, an analyst at Bloomberg ETF, pointed out that IBIT experienced a significant gain of over 50% and attracted approximately $15 billion in fresh investments during the past three months. This amount is more than double the amount brought in by any other of the 421 BlackRock ETFs, demonstrating its remarkable market performance.
The value of $IBIT has risen by more than 50% within just three months, which is twice the amount gained by any other BlackRock ETF. Furthermore, they have gathered an impressive $15 billion in fresh capital during this period. With over 421 such ETFs available, this level of growth makes $IBIT a highly sought-after investment, red hot even.
— Eric Balchunas (@EricBalchunas) April 11, 2024
Yesterday, IBIT was the top contributor to inflows for U.S. Bitcoin spot ETFs, bringing in more than the Grayscale GBTC fund which experienced outflows totaling $124.9 million. Bitwise BITB received inflows of $11.1 million, and both Valkyrie’s BRRR and Fidelity’s FBTC saw inflows of $8.4 million and $4.6 million respectively.
On Thursdays, no new investments were added to other Bitcoin ETFs, leading to a total net investment of $91.3 million for all spot Bitcoin ETFs that day.
BlackRock’s ETF Continues to Lead
Reaching a significant mark in investments, the bitcoin ETF from BlackRock’s Spot Index Series is experiencing increased demand, fueled by renewed promotional pushes for this innovative financial product.
Nate Geraci, President of The ETF Store, pointed out the growing presence of iShares’ Bitcoin ETF advertisements on the Bloomberg home page. He mentioned spotting seven such ads during his browsing session. Geraci stressed that the marketing race for these products is still in its infancy, having only started three months ago.
On Thursdays, the trading volume for Bitcoin ETFs stayed steady at around $2.5 billion, with IBIT handling the most transactions at $1.1 billion. However, the total daily trading volume has decreased significantly since its record high of $9.9 billion on March 5, which came after Bitcoin broke through its previous peak of roughly $69,000.
Although Bitcoin’s price has seen ups and downs, BlackRock’s Bitcoin ETF, which holds actual Bitcoins, managed over $15 billion in assets as of April 12, and is nearing $20 billion currently.
Based on information from heyapollo, GBTC has approximately 314 thousand Bitcoins at present, whereas IBIT has around 269 thousand Bitcoins. The gap between these two funds is roughly 45 thousand Bitcoins.
Fidelity’s FBTC now holds more than 151,000 Bitcoins worth around $10.7 billion, while Ark Invest’s ARKB has amassed over 43,000 Bitcoins or approximately $3 billion. It’s worth mentioning that newly launched Bitcoin ETFs collectively manage assets valued at over half a million Bitcoins, equivalent to around $37 billion.
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2024-04-12 17:21