BlackRock Bitcoin ETF IBIT Enters the Top 10 ETF List with Longest Entry
On Monday, April 22, BlackRock Bitcoin ETF IBIT recorded another inflow of $19.4 million, marking the 70th consecutive day of inflows since its launch. This places BlackRock’s IBIT ETF among the top ten exchange-traded funds recording the largest daily series of inflows.
BlackRock Bitcoin ETF IBIT Shines
BlackRock’s IBIT Bitcoin ETF has so far accumulated more than $15.4 billion in Bitcoin at its current price. On the one hand, BlackRock recorded continuous inflows, while on the other hand, Grayscale Bitcoin ETF recorded continuous outflows. BlackRock’s IBIT is quickly closing the gap with GBTC and could soon become the largest Bitcoin fund on the market.
Earlier today, Bloomberg senior ETF analyst Eric Balchunas shared a chart on X and highlighted the potential inflection point for BlackRock’s fund, IBIT. If IBIT manages to maintain its streak of 70 consecutive days of net inflows, it will join the ranks of some of the most successful exchange-traded funds in history.
“IBIT entry line is currently at 69 days. A day later, it enters the top 10 and equals JETS,” Balchunas noted. According to Balchunas’ data, the JETS exchange-traded fund, which holds shares of companies in the airline industry, has also achieved 70 consecutive days of inflow. Before today, JETS ranked tenth in this regard. was next in line.
JPMorgan Equity Premium Income ETF (JEPI) currently holds the record for longest daily inflow streak, standing at an impressive 160 consecutive days, according to a Bloomberg analyst post.
Snapshot of entries
Yesterday, April 22, the Bitcoin spot ETF market saw significant movements. While the total net inflow was 62.0899 million dollars, the single-day net outflow in Grayscale GBTC was 34.993 million dollars. In contrast, Fidelity ETF FBTC recorded single-day net inflows of $34.8334 million.
Over the last three sessions, Fidelity’s FBTC has outpaced BlackRock’s IBIT in terms of daily inflows. Historical cumulative net inflows into Bitcoin spot ETFs have now reached an impressive $12.384 billion. Bitwise CEO recently stated that asset management firms will further increase their exposure to the Bitcoin ETF.
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Bhushan is a FinTech enthusiast and has a good ability to understand financial markets. His interest in economics and finance draws his attention to the emerging Blockchain Technology and Cryptocurrency markets. He is in a constant learning process and motivates himself by sharing the knowledge he has acquired. In her spare time, she reads thriller novels and sometimes explores her culinary skills.
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