BlackRock's Bitcoin ETF IBIT Continues to Attract Investors Despite Market Downturn

BlackRock's spot Bitcoin ETF, the IBIT fund, continues to be a preferred option for financial investors.

BlackRock's spot Bitcoin exchange-traded fund (ETF) continues to attract significant inflows, even as the price of the flagship digital asset fell on Oct. 31.

The IBIT fund, which tracks the performance of Bitcoin, attracted around $318 million in net inflows on Monday, ETF data provider TrackFi showed on Tuesday.

The inflows came as the price of Bitcoin dropped around 4% to $68,800 on Oct. 31. The flagship cryptocurrency reached a new all-time high of $70,000 last week.

The latest inflows into IBIT follow a record-breaking $875 million that entered the fund on Oct. 30, exceeding its previous high of $849 million. Fund flows into IBIT have now surpassed $2 billion for the week, according to data from Farside Investors.

Other Bitcoin ETFs also saw mixed performance on Monday. The Valkyrie Bitcoin fund, known by its ticker BRRR, added nearly $2 million.

However, Fidelity'sを始めとする他の ETF プロバイダーは、大幅な資金流出に直面しました。

Bitcoin ETF (FBTC) saw two weeks of net outflows, losing over $75 million on Monday. Meanwhile, ARK Invest/21Shares, Bitwise, VanEck, and Grayscale ETFs collectively reported $213 million in outflows.

Despite the mixed performance across ETFs, the massive inflows into IBIT helped the U.S. spot Bitcoin ETF group maintain positive momentum, adding over $30 million in new investments. This marks the seventh consecutive day of net inflows for the sector.

Launched in October 2021, IBIT has quickly become one of the most successful ETFs in the U.S., attracting a large portion of the total inflows into Bitcoin ETFs. The fund has now gathered almost $30 billion in assets since its inception, with approximately half of that amount being gathered in the past month.

The strong demand for IBIT has also contributed to a substantial increase in the combined holdings of U.S. spot ETFs, which now exceed 1 million Bitcoin.