Bitcoin ETF

Bitcoin

when

<h2 id="key-points">Key Points</h2>
<ul>
 <li>BlackRock’s IBIT spot Bitcoin ETF has reached $15 billion in total inflows three months after its launch.</li>
 <li>IBIT’s inflows dominated the U.S. spot Bitcoin ETFs, adding $192.1 million and overpowering Grayscale’s GBTC fund outflows.</li>
</ul>
<p>BlackRock’s IBIT spot <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> exchange-traded fund (ETF) has hit $15 billion in total inflows. This milestone was achieved exactly three months after the fund started trading.</p>
<h2 id="ibit-s-performance">IBIT’s Performance</h2>
<p>The fund has seen a growth of over 50% and has drawn $15 billion in new cash in three months. These figures outpace any of BlackRock’s 421 other ETFs, according to Bloomberg ETF analyst Eric Balchunas.</p>
<p>On a single day, IBIT led the inflows for the U.S. spot Bitcoin ETFs, adding $192.1 million. This amount outmatched $124.9 million in outflows from Grayscale’s higher-fee GBTC fund, as per CoinGlass data.</p>
<h2 id="other-bitcoin-etfs">Other Bitcoin ETFs</h2>
<p>Other Bitcoin ETFs also experienced inflows. Bitwise’s BITB saw inflows of $11.1 million, while Valkyrie’s BRRR and Fidelity’s FBTC attracted $8.4 million and $4.6 million, respectively. The remaining funds saw no flows, with daily net inflows totaling $91.3 million.</p>
<p>Despite these inflows, overall flows for the spot Bitcoin ETFs have slowed since peaking at a net daily inflow of $1.05 billion on March 12. This was when Bitcoin neared its latest all-time high of $73,836.</p>
<p>As the competition for attention intensifies, BlackRock has embarked on a renewed advertising campaign for its product. The fund’s trading volume remained steady at $2.5 billion, with IBIT generating $1.1 billion in trading.</p>
<p>Despite Bitcoin’s price fluctuations, BlackRock’s spot Bitcoin ETF already hit $15 billion in assets under management on March 12. It is now nearing $20 billion in AUM.</p>
<p>In terms of Bitcoin, BlackRock’s IBIT fund currently manages more than 266,000 BTC ($18.9 billion) in assets. This figure does not include the most recent inflows.</p>
<p>Fidelity’s FBTC has surpassed 151,000 BTC ($10.7 billion) in assets. Ark Invest 21 Shares’ ARKB has amassed over 43,000 BTC ($3 billion) in assets, according to CoinGlass.</p>
<p>The nine new spot Bitcoin ETFs, excluding Grayscale’s converted GBTC fund, now exceed 524,000 BTC in assets ($37 billion) in total.</p>
<p>Meanwhile, the assets underlying GBTC have fallen by 49% to just under 316,000 BTC ($22 billion) from around 619,000 BTC since the spot Bitcoin ETFs began trading.</p>
<p>Bitcoin is currently trading for $70,774. The largest cryptocurrency by market cap has traded flat over the last 24 hours but has gained 5% over the past month and is up 67% year-to-date.</p>

BlackRock’s Bitcoin ETF Surpasses $15 Billion Mark in Cumulative Inflows

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