Bitcoin ETF

Bank AI

BlackRock

<p class="is-style-lead">Bitcoin ETF investors parked a record amount of money into BlackRock’s fund on the day crypto’s leading token achieved a new all-time high before retracing up to 10%.</p> 
<p>BlackRock’s iShares Bitcoin ETF (IBIT) <a href="https://x.com/EricBalchunas/status/1765367976407282153?s=20" target="_blank" rel="noreferrer noopener">received</a> $788 million in net inflows on Mar. 5, setting a new historical high for daily influx into the investment vehicle as traders seemingly capitalized on a market dip.&nbsp;</p> 
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   <p lang="en" dir="ltr">btw for context on relative size of <a href="https://twitter.com/search?q=%24IBIT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$IBIT</a>'s cash haul, it now ranks 2nd among all ETFs in 1D flow, 1W flow, 1M flow and 3rd in YTD flows.</p>— Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1765367976407282153?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">March 6, 2024</a>
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<p>According to SoSoValue, the IBIT ETF has seen over $9 billion in all-time inflows and commands nearly $12 billion in assets under management (AUM). The AUM is underpinned by over 183,000 Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) acquired by the asset manager since Jan. 11, when trading officially opened.&nbsp;</p> 
<p>BlackRock’s largest daily inflow also signaled its biggest BTC scoop, acquiring nearly 12,600 Bitcoin in a single day. The previous highest purchase was on Feb. 28 when the Bitcoin ETF issuer bought over 10,140 BTC for its IBIT fund.</p> 
<p>Per crypto.news, BlackRock plans to <a href="https://crypto.news/blackrock-seeks-to-purchase-more-bitcoin-etfs/" target="_blank" rel="noreferrer noopener">invest</a> in more BTC ETFs through its Strategic Income Opportunities Fund. The Wall Street titan disclosed its intentions via a Mar. 4 filing with the U.S. SEC just days after announcing its <a href="https://crypto.news/bitcoin-etf-blackrock-brazil/" target="_blank" rel="noreferrer noopener">Bitcoin ETF</a> plans in Brazil.</p> 
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 <img loading="lazy" decoding="async" width="1024" height="399" src="https://crypto.news/app/uploads/2024/03/Screenshot-310-1024x399.png" alt="Bitcoin ETF" class="wp-image-14256113">
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  Mar. 5 spot BTC ETF flows | Source: <a href="https://sosovalue.xyz/assets/etf" target="_blank" rel="noreferrer noopener">SoSoValue </a>
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<p> You might also like: <a href="https://crypto.news/bitcoin-etf-gold-investing/"> Traditional investors prefer Bitcoin ETFs to gold </a> </p> 
<h2 class="wp-block-heading" id="asset-managers-make-u-turn-on-bitcoin-etfs">Asset managers make U-turn on Bitcoin ETFs</h2> 
<p>As IBIT marked record inflows, Grayscale’s GBTC continued to experience outflows, as the converted ETF shed $332 million. All 10 spot BTC ETFs noted $648 million in net inflows, while investors have liquidated over $9 billion from GBTC.&nbsp;</p> 
<p>Other institutions have also started hopping on the BTC ETF bandwagon after the products have accumulated over $20 billion in AUM, excluding Grayscale’s GBTC. According to a Dune Analytics dashboard, spot Bitcoin ETFs account for almost 4% of BTC’s current supply.&nbsp;</p> 
<p>Bank of America’s Merrill Lynch, Citi Bank, UBS, and Wells Fargo <a href="https://crypto.news/bank-of-america-wells-fargo-bitcoin-etfs/" target="_blank" rel="noreferrer noopener">announced</a> that, due to customer demand, select clients could purchase spot BTC ETFs. However, the legacy institutions initially <a href="https://crypto.news/vanguard-other-tradfi-giants-boycott-spot-bitcoin-etfs/" target="_blank" rel="noreferrer noopener">shunned</a> the product after the launch.</p> 
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 <img loading="lazy" decoding="async" width="1024" height="474" src="https://crypto.news/app/uploads/2024/03/Screenshot-311-1024x474.png" alt="BlackRock Bitcoin ETF hits record $788m daily net inflows&nbsp; - 20" class="wp-image-14256115">
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  spot BTC ETF on-chain data | Source: Dune Analytics, Hildobby
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<p> Read more: <a href="https://crypto.news/bank-of-america-wells-fargo-bitcoin-etfs/"> Bank of America, Wells Fargo add spot Bitcoin ETFs to offering </a> </p>

BlackRock Bitcoin ETF hits record $788m daily net inflows

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