BlackRock's Bitcoin ETF Shatters Records with Record Inflows

BlackRock's Bitcoin spot exchange-traded fund (ETF) continues to break records, marking 71 consecutive days of inflows. With $18.24 billion in assets, the fund is among the top 10 ETF inflow streaks of all time. This achievement solidifies the ETF's position among the top 3% of all ETFs ever launched. Notably, institutions are gradually gaining exposure to Bitcoin through the ETF, adding it to their broader portfolios as a small complement rather than a significant allocation.

BlackRock's Bitcoin ETF Surges to Historic Inflows, Breaking Multiple Records

BlackRock's Bitcoin spot exchange-traded fund (ETF) has achieved a remarkable milestone, recording a consecutive 71-day period of inflows. This unprecedented streak places it among the top 10 longest inflow streaks in ETF history, according to Bloomberg Intelligence analyst Eric Balchunas.

Since its launch in January 2023, the fund known as the iShares Bitcoin Trust (IBTC) has amassed a staggering $18.24 billion in assets. This notable achievement surpassed other prominent ETFs, including the Global Jets ETF, Vanguard's bond market ETF, and developed-markets ETF, which Balchunas characterized as "one hit wonders" and "cash vacuum cleaners."

The IBTC's impressive inflow streak propelled it into the top 10 ETFs of all time in terms of consecutive inflow days. However, as Balchunas noted, "there's a lot of mountain still left to climb" to ascend to the number one spot. Historically, the longest inflow streak recorded by an ETF was 160 days, achieved by JPMorgan's Equity Premium Income ETF.

With its current asset base, the BlackRock Bitcoin ETF ranks among the top 3% of all ETFs ever launched. This success is largely attributed to institutional investors gradually incorporating Bitcoin into their portfolios as a small but meaningful exposure.

"It shows that most of the bites are nibbles but there are a lot of fish," Balchunas observed.

Despite the success of the IBTC, not all of BlackRock's crypto ventures have experienced similar achievements. The company's tokenized fund, BUIDL, which launched on the Ethereum blockchain in March 2023, has attracted a limited number of investors. Despite an initial surge in value, on-chain data indicates that the fund's assets are primarily distributed among a small number of wallets.

Media Contact:

Tom Carreras, Markets Correspondent
DL News
tcarreras@dlnews.com

About BlackRock's Bitcoin ETF:

The iShares Bitcoin Trust (IBTC) is a publicly traded security that provides investors with exposure to the price of Bitcoin, the leading cryptocurrency. The fund is physically backed by Bitcoin held in custody by a third-party custodian.

About Bloomberg Intelligence:

Bloomberg Intelligence is a research and analysis firm that provides in-depth insights and data on a wide range of financial markets and sectors. The firm's team of analysts and economists offers independent, unbiased research to help investors make informed decisions.