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⚡️ Bitcoin ETF: Record $305M Inflows, BlackRock’s BIT Leads
🔸 Bitcoin ETFs are holding ground, the Stock Market shivers
Although only 5 months and 13 days old, U.S. spot Exchange Traded Funds (ETFs) on bitcoin orchestrated a memorable performance last Tuesday, attracting a massive influx of 305.7 million dollars. It was a seventh consecutive day of positive flows, a true festival of greenbacks!
Among the players in this financial ballet, Blackrock’s IBIT shone brightly, capturing alone 94.86% of the total inflows. Yes, you read that right, 94.86%! That represents a small fortune of 280 million dollars. Meanwhile, Fidelity’s FBTC had to settle for crumbs, still bringing in nearly 26 million dollars.
The other spot bitcoin ETFs, for their part, were left frozen, with neither inflows nor outflows, like forgotten dancers on the side of the stage.
Behind the scenes, Blackrock’s IBIT now holds 281,883.90 BTC, closely rivaling Grayscale’s Bitcoin Trust, which possesses 289,511.90. A titanic battle is brewing, as IBIT needs just 7,628 BTC, a trifle of 536 million dollars, to match its rival.
Currently, only GBTC, IBIT, and FBTC can boast owning more than 100,000 BTC each. With 159,548.77 BTC in hand, FBTC is worth a tidy sum of 11.21 billion dollars.
🔸 Blackrock’s IBIT: An Uncontested Leader
Thunderstrike in the genteel world of finance! Blackrock’s IBIT, a spot bitcoin ETF, has just taken center stage with 414 institutional investors under its belt, reports Bitcoin.com. The latest filings with the SEC reveal that this fund is attracting the big fish, a real boon for bitcoin.
Eric Balchunas, senior analyst at Bloomberg, didn’t mince words, calling this performance “stunning”. For him, gathering 20 holders for a freshly launched ETF is already an achievement, so 414 (among the 1,500 reported in 3 months)… it’s science fiction! No other bitcoin ETF launched in January has generated as much enthusiasm.
In comparison, the Bitwise Bitcoin ETF, the Fidelity Wise Origin Bitcoin Fund (FBTC), and the ARK 21shares Bitcoin ETF struggle to keep pace.
