- BlackRock’s spot Bitcoin ETF, iShares Bitcoin Trust (IBIT), has accumulated over $3 billion in assets and 70,000 BTC tokens since launching last month, adding 3,805 BTC in just the past 24 hours.
- Other spot Bitcoin ETFs like Fidelity’s FBTC and offerings from Ark, 21Shares, Bitwise, and others have also seen strong inflows totaling nearly $28 billion in assets under management across spot Bitcoin ETFs.
- Grayscale’s GBTC saw outflows slow to $200 million per day as inflows into new spot Bitcoin ETFs accelerate, highlighting surging investor demand for SEC-approved Bitcoin exposure.
BlackRock made waves in the crypto industry when it launched its spot Bitcoin exchange-traded fund (ETF), iShares Bitcoin Trust (IBIT), last month. The ETF has attracted significant investor interest and its assets under management have quickly grown.
Accumulating Bitcoin at a Rapid Pace
IBIT has accumulated over 70,000 BTC tokens worth over $3 billion at current prices. According to analyst CryptoWorldJosh, the ETF added another 3,805 BTC just in the past 24 hours.
Since launching on January 11th, IBIT has enjoyed strong daily inflows, failing to attract at least $100 million on only two trading days so far. The ETF has become hugely popular among investors seeking Bitcoin exposure.
Other Spot Bitcoin ETFs Also Gaining Traction
IBIT isn’t the only spot Bitcoin ETF performing well. Fidelity’s spot Bitcoin ETF (FBTC) has attracted close to $25 billion in net inflows. Meanwhile, spot Bitcoin ETFs from Ark, 21Shares, Bitwise, InvescoGalaxy, VanEck, Valkyrie, Franklin, and WisdomTree have collectively garnered nearly $2 billion in assets under management.
Including Grayscale’s Bitcoin Trust (GBTC), spot Bitcoin ETFs now boast around $28 billion in total assets under management.
Outflows from GBTC Slow as Inflows Accelerate
GBTC converted from a trust product to a spot ETF in January but experienced significant outflows as investors took profits. However, outflows have now dropped to around $200 million per day as inflows into new spot Bitcoin ETFs accelerate.
The rapid inflow of assets into these new products highlights surging investor demand for Bitcoin exposure through SEC-approved ETFs. IBIT’s growth has been particularly remarkable, cementing BlackRock’s status as a major player in the expanding crypto asset management space.
