Key Points
- BlackRock’s IBIT spot Bitcoin ETF has reached $15 billion in total inflows three months after its launch.
- IBIT’s inflows dominated the U.S. spot Bitcoin ETFs, adding $192.1 million and overpowering Grayscale’s GBTC fund outflows.
BlackRock’s IBIT spot Bitcoin exchange-traded fund (ETF) has hit $15 billion in total inflows. This milestone was achieved exactly three months after the fund started trading.
IBIT’s Performance
The fund has seen a growth of over 50% and has drawn $15 billion in new cash in three months. These figures outpace any of BlackRock’s 421 other ETFs, according to Bloomberg ETF analyst Eric Balchunas.
On a single day, IBIT led the inflows for the U.S. spot Bitcoin ETFs, adding $192.1 million. This amount outmatched $124.9 million in outflows from Grayscale’s higher-fee GBTC fund, as per CoinGlass data.
Other Bitcoin ETFs
Other Bitcoin ETFs also experienced inflows. Bitwise’s BITB saw inflows of $11.1 million, while Valkyrie’s BRRR and Fidelity’s FBTC attracted $8.4 million and $4.6 million, respectively. The remaining funds saw no flows, with daily net inflows totaling $91.3 million.
Despite these inflows, overall flows for the spot Bitcoin ETFs have slowed since peaking at a net daily inflow of $1.05 billion on March 12. This was when Bitcoin neared its latest all-time high of $73,836.
As the competition for attention intensifies, BlackRock has embarked on a renewed advertising campaign for its product. The fund’s trading volume remained steady at $2.5 billion, with IBIT generating $1.1 billion in trading.
Despite Bitcoin’s price fluctuations, BlackRock’s spot Bitcoin ETF already hit $15 billion in assets under management on March 12. It is now nearing $20 billion in AUM.
In terms of Bitcoin, BlackRock’s IBIT fund currently manages more than 266,000 BTC ($18.9 billion) in assets. This figure does not include the most recent inflows.
Fidelity’s FBTC has surpassed 151,000 BTC ($10.7 billion) in assets. Ark Invest 21 Shares’ ARKB has amassed over 43,000 BTC ($3 billion) in assets, according to CoinGlass.
The nine new spot Bitcoin ETFs, excluding Grayscale’s converted GBTC fund, now exceed 524,000 BTC in assets ($37 billion) in total.
Meanwhile, the assets underlying GBTC have fallen by 49% to just under 316,000 BTC ($22 billion) from around 619,000 BTC since the spot Bitcoin ETFs began trading.
Bitcoin is currently trading for $70,774. The largest cryptocurrency by market cap has traded flat over the last 24 hours but has gained 5% over the past month and is up 67% year-to-date.