On April 11, there was an inflow of $192 million into BlackRock’s iShares Bitcoin Trust (IBIT), as indicated by data from FactSquared Investors.
The Bitcoin ETF represented by the SPOT has surpassed its rivals, boasting 266,587 Bitcoins worth over $10 billion. In comparison, Bitwise’s Bitcoin ETF attracted only $11.1 million in investments. Conversely, Grayscale’s Bitcoin trust experienced withdrawals of around $125 million.
On the previous day, April 11, IBIT saw a trading volume of $300 million within the initial 30 minutes, making it one of the top 10 ETFs in terms of trading volume. By April 12, the ETF’s market capitalization had grown to $18.77 billion and its daily trading volume amounted to $1.11 billion.
IBIT has consistently set new records and is among the two ETFs that have experienced uninterrupted investment since their debut. As mentioned in an April 8th post by Bloomberg analyst Eric Balchunas, IBIT enjoyed inflows for an impressive 59 consecutive days, earning a spot on the list of the top 20 longest-running daily inflows.
In his latest article on X, Balchunas mentioned that IBIT generated an impressive $15 billion in cash during a span of just three months. He emphasized that this amount was more than double the highest cash inflow for any of BlackRock’s 421 ETF offerings.
The value of $IBIT has increased by more than 50% within just three months, making it twice as much as any other BlackRock ETF in this regard. Additionally, they have raised an impressive $15 billion during this period – again, double the amount taken in by other similar BlackRock funds. With a total of 421 such ETFs in existence, the level of interest and investment in $IBIT is exceptionally high.
— Eric Balchunas (@EricBalchunas) April 11, 2024
At the same time, BlackRock has initiated a new advertising effort for IBIT on Bloomberg’s main page. According to Balchunas, this ad is quite large, resembling those in Times Square. BlackRock aims to capitalize on current interest by promoting IBIT aggressively following their previous campaign in February 2024, which was well-received within the cryptocurrency sector.
Recently, the asset manager has brought on board four more Wall Street heavyweights – Citi, Citadel, Goldman Sachs, and UBS – as authorized participants for its Bitcoin ETF. With this addition, the number of authorized participants for BlackRock now stands at nine.
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2024-04-12 11:58