- BlackRock’s iShares Bitcoin Trust (IBIT), the largest spot Bitcoin ETF, has seen its AUM grow by nearly 50% in less than 10 days amid Bitcoin’s recent rally
- IBIT has accumulated over 200k BTC for investors in under 3 months, making it the ETF with the most Bitcoin holdings after MicroStrategy’s 205k BTC
- Bitcoin ETFs like IBIT are seeing strong inflows as asset managers like BlackRock expand their crypto offerings, signaling growing institutional demand
BlackRock‘s Bitcoin ETF, the iShares Bitcoin Trust (IBIT), has seen its assets under management (AUM) grow by almost 50% in less than 10 days amid Bitcoin‘s rally to new highs.
IBIT maintains its reign as largest spot Bitcoin ETF
IBIT has maintained its position as the largest spot Bitcoin ETF out of the Newborn Nine (excluding the converted Grayscale GBTC ETF) since the US SEC approved them in January.
The IBIT has accumulated 203,754 BTC for investors in less than three months, marking it as the ETF with the highest Bitcoin holdings among the newly approved funds. The amount puts it just behind MicroStrategy, which recently spent almost a billion dollars to grow its holdings to 205,000 BTC.
In comparison, Fidelity’s FBTC is the second-largest spot Bitcoin ETF with $2.9 billion in AUM. BlackRock and Fidelity together have garnered more than $17 billion in net inflows from investors.
BlackRock expands Bitcoin exposure
Following the success of IBIT, BlackRock has shown interest in expanding Bitcoin exposure to its other funds and has applied for SEC approval. Additionally, BlackRock has extended its Bitcoin ETF offerings to Latin America in partnership with Brazil’s B3 stock exchange.
Strong inflows into Bitcoin ETFs
Bitcoin ETFs overall experienced net inflows of $505.5 million on March 11, with IBIT leading at $562.9 million, representing a 0.12% increase in total assets.
Other ETFs including Bitwise’s BITB, ARK Invest’s ARKB, and VanEck’s BRRR also saw inflows, while Invesco’s BTCO reported outflows of $9.7 million. Meanwhile, Grayscale experienced the highest level of outflows since Feb 29, with $49.4 million leaving the fund.
The net inflow of Bitcoin into ETFs was 7,009 BTC, with IBIT accounting for 7,805 BTC of the total. On the other hand, FBTC added 2,988 BTC, BITB 690 BTC, ARKB 180 BTC, and BRRR added 1,648 BTC.
Overall, the funds have experienced record performance since their launch, with daily volume exceeding $10 billion on some days.
Conclusion
The success of Bitcoin ETFs like IBIT demonstrates growing institutional demand for regulated Bitcoin exposure. As more mega asset managers like BlackRock expand their crypto offerings, Bitcoin is likely to see increased mainstream adoption.
