Bitcoin ETF

Bitcoin

BlackRock

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/blackrock-dominates-bitcoin-etf-inflows" data-wpel-link="internal" rel="noopener noreferrer nofollow">BlackRock Dominates Bitcoin ETF Inflows</a><br></p>
<p style="text-align: justify">On May 21, BlackRock’s spot <a href="https://en.bitcoinhaber.net/bitcoins-price-surge-analysis-and-projections" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investment</a> fund dominated the market, accounting for 95% of total inflows into U.S. spot Bitcoin ETF funds. Preliminary <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data</a> from Farside Investors revealed that BlackRock’s iShares Bitcoin Trust (IBIT) saw a significant net inflow of $290 million. In total, all eleven ETF issuers combined reported net inflows of $305.7 million on the same day.</p>
<h2 id="what-s-driving-the-etf-market">What’s Driving the ETF Market?</h2>
<p style="text-align: justify">This substantial inflow marks the highest for BlackRock’s ETF fund since April 5, reversing a six-week trend of negligible or zero inflows. The recent figures also surpass the inflows recorded over the past 21 trading days. Over the last four trading days, more than $1 billion has returned to spot Bitcoin ETF funds, driven by Bitcoin’s volatile price surge.</p>
<p style="text-align: justify">Adding the latest daily figures, BlackRock’s fund has achieved a total inflow of $16 billion since its inception. However, the fund’s official website lists assets under management (AUM) at $19 billion. This places BlackRock’s IBIT fund close to the sector leader, Grayscale’s GBTC spot ETF, which holds $20 billion in AUM according to its official counts.</p>
<h2 id="which-funds-are-seeing-movement">Which Funds Are Seeing Movement?</h2>
<p style="text-align: justify">Conversely, Grayscale’s GBTC reported zero inflows on May 21, marking five consecutive days without outflows. The fund saw an inflow of $72.5 billion over the past five days, reversing a trend of four months of constant outflows.</p>
<p style="text-align: justify">On May 21, while BlackRock saw large inflows, VanEck Bitcoin Trust ETF (HODL) experienced an outflow of $5.9 million, and Bitwise Bitcoin ETF (BITB) had an outflow of $4.2 million. Fidelity Wise Origin Bitcoin Fund (FBTC) recorded a smaller inflow of $25.8 million, with other funds reporting zero inflows.</p>
<p style="text-align: justify">The enthusiasm surrounding Bitcoin ETFs was significantly influenced by Bitcoin’s 12% price increase over the past week, culminating in a six-week high of $71,600 on May 21. However, by early trading on May 22, Bitcoin’s price dipped to $69,444, falling below the $70,000 mark.</p>
<h2 id="key-takeaways">Key Takeaways</h2>
<ul>
 <li>BlackRock’s Bitcoin ETF saw a massive inflow on May 21.</li>
 <li>The rise in Bitcoin’s price sparked increased ETF activity.</li>
 <li>Market optimism strengthened by potential SEC approval of Ethereum ETFs.</li>
</ul>
<p style="text-align: justify">The notion of the Securities and Exchange Commission potentially approving spot Ethereum ETF funds in the U.S. also stirred the crypto markets this week, further buoying investor sentiment.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/blackrock-dominates-bitcoin-etf-inflows" data-wpel-link="internal" rel="noopener noreferrer nofollow">BlackRock Dominates Bitcoin ETF Inflows</a></h5>

BlackRock Dominates Bitcoin ETF Inflows

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