In the three months since its launch, BlackRock’s iShares Bitwise Bitcoin ETF (IBIT) has attracted over $15 billion in investments, making it one of the top 100 ETFs globally in terms of assets under management.
Eric Balchunas, an analyst at Bloomberg for Exchange-Traded Funds, pointed out IBIT’s exceptional gain of 50%, bringing in twice as many investments as any other BlackRock ETF.
IBIT has experienced a 50% increase in value and raised approximately $15 billion in new funds over the past three months. These figures surpass any other BlackRock ETF by double, and there are currently 421 of these IBIT ETFs in existence. This level of growth is exceptionally high.
— Eric Balchunas (@EricBalchunas) April 11, 2024
Market Insights and Competition
IBIT inflows have been prevailing in U.S. spot Bitcoin ETFs, highlighting its prominent position in the market. Despite facing competition from funds like Grayscale’s GBTC, IBIT manages to stand out with significant daily inflows. Moreover, Bitwise’s BITB, Valkyrie’s BRRR, and Fidelity’s FBTC have also seen substantial investments, fueling the expansion of the spot Bitcoin ETF sector.
Amidst intensified promotional activities and rising competition in the crypto investment sector, BlackRock’s IBIT ETF has achieved a significant milestone. The evolution of the ETF market underlines IBIT’s swift rise to prominence and expanding impact within the digital currency scene.
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2024-04-12 20:04