- BlackRock’s new spot bitcoin ETF, IBIT, has joined an exclusive group of ETFs managing over $10 billion in assets after just 7 weeks.
- IBIT saw inflows of $603.9 million on Thursday, offsetting nearly $600 million in outflows from Grayscale Bitcoin Trust, showing its dominance among new spot bitcoin ETFs.
- Bitcoin’s price remains near its all-time high around $61,800, after reaching a record high of just above $69,000 in November 2021.
BlackRock’s spot bitcoin exchange-traded fund (ETF), IBIT, has joined an exclusive group of ETFs that have over $10 billion in assets under management (AUM). This milestone was reached in record time, just seven weeks after launch.
The Exclusive $10 Billion Club
The iShares Bitcoin ETF (IBIT) is now one of only 152 ETFs out of 3,400 total that are in the exclusive $10 billion club. This was noted by Bloomberg ETF analyst Eric Balchunas in a tweet. More than three-quarters of IBIT’s assets under management come from inflows, added Balchunas.
IBIT’s Dominance Among New Spot Bitcoin ETFs
IBIT saw inflows of $603.9 million on Thursday, enough to offset the nearly $600 million in outflows from the Grayscale Bitcoin Trust. This shows IBIT’s dominance among the new spot bitcoin ETFs. It is trailed by Fidelity’s Wise Origin Bitcoin Fund (FBTC) with $6.5 billion in AUM, ARK 21Shares Bitcoin ETF (ARKB) with $2.1 billion, and Bitwise Bitcoin ETF (BITB) with $1.5 billion. Excluding Grayscale, the nine new spot bitcoin ETFs have a combined $21.2 billion in assets under management.
Bitcoin Price Holds Near All-Time High
The price of bitcoin (BTC) was trading around $61,800 at the time of writing, down 1.7% over the prior 24 hours according to CoinGecko. This keeps it near its record high price of just above $69,000 reached in November 2021.
