Bitcoin ETF

Bitcoin

BlackRock

BlackRock’s spot Bitcoin&nbsp;exchange-traded fund (ETF) made up 95% of the total inflows into United States spot Bitcoin ETFs on Tuesday, May 21, which together raked in over $300 million in net inflows.&nbsp;
According to preliminary data from Farside Investors, BlackRock’s iShares Bitcoin Trust (IBIT) posted large inflows of $290 million on May 21. The net inflow for all eleven ETF issuers combined was $305.7 million. 
This is the highest inflow to BlackRock’s ETF since April 5, reversing a <a href="https://cointelegraph.com/news/blackrock-bitcoin-etf-inflow-halt-4-days">trend of zero</a> or very low inflows for the past six weeks or so.
The latest figure is also more than the fund has seen coming in for the past 21 trading days combined. 
Overall, more than $1 billion has returned to spot Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>)&nbsp;ETFs over the past four trading days amid a choppy Bitcoin rally.&nbsp;
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With the latest daily figures added, the BlackRock fund has now totaled $16 billion of inflows since launching, according to Farside Investors. However, the official website for the product <a href="https://www.blackrock.com/us/individual/products/333011/ishares-bitcoin-trust" target="_blank" rel="noopener nofollow">shows</a> assets under management (AUM) of $19 billion.
This puts BlackRock’s IBIT very close to industry leader Grayscale, which has $20 billion in AUM for its Grayscale Bitcoin Trust (GBTC) ETF, <a href="https://etfs.grayscale.com/gbtc" target="_blank" rel="noopener nofollow">according</a> to the official website. 
Meanwhile, GBTC registered zero outflows on May 21, bringing the number of trading days without a net outflow to five. The fund has seen inflows of $72.5 million over the past five days, reversing a four-month trend of consistent outflows. 
However, Tuesday’s big inflow figure was not without some bleeding. The VanEck Bitcoin Trust ETF saw outflows of $5.9 million, and the Bitwise Bitcoin ETF had $4.2 million in outflows. 
The Fidelity Wise Origin Bitcoin Fund saw minor inflows of $25.8 million, with the rest registering zero.
Related: <a href="https://cointelegraph.com/news/vanguard-names-bitcoin-friendly-blackrock-salim-ramji-ceo">Vanguard’s new boss says Bitcoin ETF not on the table</a>
Bitcoin ETF enthusiasm has been driven by an uptick in BTC prices over the past week, during which the asset has gained 12%. 
BTC hit a six-week high of $71,600 on May 21 but retreated below the $70,000 level during early Asian trading on May 22. At the time of writing, it was changing hands for $69,444. 
The possibility that the U.S. Securities and Exchange Commission will&nbsp;<a href="https://cointelegraph.com/news/five-us-ethereum-etf-bidders-amend-filings">approve spot Ether ETFs</a> in the U.S. has also buoyed crypto markets since May 20.
Magazine: <a href="https://cointelegraph.com/magazine/2500-film-about-ftx-collapse-amazon-prime-with-help-from-mom/">The $2,500 doco about FTX collapse on Amazon Prime… with help from mom</a>

BlackRock’s Bitcoin ETF hits 6-week inflow high amid early-week BTC rally

Cointelegraph

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