Key Points
- BlackRock’s Bitcoin ETF surpasses 250,000 BTC in assets under management in just 11 weeks.
- Fidelity’s Bitcoin ETF crosses the $10 billion threshold.
BlackRock’s IBIT Bitcoin ETF has reached a milestone, with assets under management exceeding 250,000 Bitcoin (BTC). This achievement comes just 11 weeks after the fund started trading on January 11.
Fastest-growing ETF
BlackRock CEO Larry Fink, in a recent interview, described IBIT as the fastest-growing ETF in history. He also expressed his surprise at the rapid rise of Bitcoin’s value.
In another significant development, Fidelity’s FBTC has crossed the $10 billion assets under management mark. This makes it the second Bitcoin ETF to achieve this milestone after BlackRock’s IBIT, which reached the $10 billion mark on March 1.
Spot Bitcoin ETF Inflow Continues
Net inflows into spot Bitcoin ETFs continued to rebound, adding $243.4 million after witnessing net outflows of around $890 million last week. BlackRock’s IBIT led the inflows, registering $323.8 million.
Meanwhile, Ark Invest 21Shares’ ARKB saw its biggest daily inflows to date, adding $200.7 million. On the other hand, Grayscale’s higher-fee GBTC fund continued its substantial outflow streak, shedding a further $299.8 million.
The remaining spot Bitcoin ETFs generated inflows of less than $6 million each. The total net inflows now stand at $11.9 billion.
Trading volume for the U.S. spot Bitcoin ETFs remained robust, generating $3.82 billion in trading. BlackRock’s IBIT led the trading with $1.82 billion.
The cumulative trading volume for all spot Bitcoin ETFs is now at $178 billion. Bitcoin is currently trading at $70,554, up 1% over the last 24 hours and 5% over the past week.