BlackRock’s Bitcoin ETF Continues 70-Day Inflow Streak, Enters Top 10 ETFs
BlackRock’s spot bitcoin ETF continues to make waves in the financial world, with its 70th consecutive day of net inflows propelling it into the top 10 of exchange-traded funds with the longest streaks of inflows. The financial giant’s ETF, ticker IBIT, added over $600 million in net inflows on Monday, bringing its total assets under management to $18.2 billion.
Bloomberg senior ETF analyst Eric Balchunas highlighted the significance of this achievement, noting that IBIT’s streak now ties it with the JETS exchange-traded fund, which focuses on companies in the airline industry. With 160 straight days of inflows, the JPMorgan Equity Premium Income ETF, or JEPI, holds the top spot for the longest streak of daily inflows.
While Grayscale’s spot bitcoin ETF, ticker GBTC, has maintained its position as the largest among crypto-based funds, recent trends suggest that BlackRock’s ETF may be gaining ground. Despite charging a higher fee than Grayscale’s fund, BlackRock’s product has been attracting consistent inflows, while GBTC has experienced outflows.
As the competition heats up in the world of crypto-based ETFs, investors will be watching closely to see if BlackRock’s spot bitcoin ETF can maintain its momentum and potentially overtake Grayscale’s fund as the leader in the space.
