LATEST: BlackRock’s Bitcoin ETF Surpasses $1 Billion Mark in Record Inflows

BlackRock’s Bitcoin exchange-traded fund (ETF), IBIT, achieved a significant milestone by attracting over $1 billion in investor inflows within a week of trading. This makes it the first among the nine new ETFs directly holding cryptocurrency to surpass this threshold. On a single day, Wednesday, investors deposited $371 million into IBIT, pushing it past the billion-dollar mark. Fidelity Investments is also making strides, with its FBTC Bitcoin ETF experiencing a record daily inflow of $358 million and accumulating a total of $880 million in inflows since its recent launch. Notably, BlackRock and Fidelity jointly command 68% of the nearly $2 billion inflows across all nine new ETFs, establishing early dominance in this evolving asset class. Rachel Aguirre, iShares head of US product at BlackRock, notes interest from both day-one retail investors and those new to the asset class.


83.2K Reads