ETF Inflows Surge as BlackRock’s IBIT Assets Exceed $20 Billion
According to Bloomberg Industry Research, spot ETFs have witnessed a significant uptick, adding $2.4 billion in assets over the past month after a period of stagnation to negative growth. BlackRock’s iShares Bitcoin Trust (IBIT) has notably surpassed $20 billion in assets under management.
Resurgence in Bitcoin Spot ETFs
Over the past month, Bitcoin spot ETFs traded in the U.S. have added $2.4 billion worth of Bitcoin. Following an initial surge of excitement, this trend experienced a phase of leveling off and decline. However, on June 4, U.S. Bitcoin spot ETFs recorded net inflows for 15 consecutive trading days. This latest round of inflows, combined with the rising price of Bitcoin (BTC), has propelled BlackRock’s IBIT to surpass $20 billion in assets under management for the first time.
Significant Inflows and Market Impact
Senior ETF analyst at Bloomberg Intelligence, Eric Balchunas, noted that these ETFs attracted approximately $2.4 billion in new funds over the past month, marking the third-largest net inflow in the entire ETF market. Despite a slowdown in inflows in April, which even saw several days of negative growth, experts deemed this as a normal occurrence.
According to Farside Investors, since May 16, the average daily net inflow has been $140 million, with IBIT leading the pack. During this period, IBIT attracted $1.1 billion, maintaining its position as the strongest among the ten funds. As of yesterday, IBIT holds 291,563 BTC, valued at $20.15 billion.
The renewed inflow into Bitcoin spot ETFs, especially BlackRock’s iShares Bitcoin Trust, signals a robust investor confidence in the cryptocurrency market. With assets surpassing $20 billion, IBIT continues to lead the charge, underscoring the growing institutional interest in Bitcoin as a viable investment.
