Markets
BlackRock BTC ETF exceeds $20 billion in assets under management
US-based spot bitcoin ETFs saw 15 consecutive sessions of net inflows yesterday, with the latest rush of silver accompanied by a rise in the price of the (BTC) to send BlackRock’s iShares Bitcoin (IBIT) fund to over $20 billion in assets under management for the first time.
According to Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, ETFs generated about $2.4 billion in new money over the past month. This would be the third largest amount of net inflows in the entire ETF market.
“The ability to bounce back with renewed interest after a few selloffs is rare for hot sauce-style strategies,” Balchunas said in a statement. post on. “[It] shows some endurance.
After the initial euphoria over the launch of spot ETFs, inflows slowed significantly in April and even turned negative for several days, which experts said then. it was completely normal.
Since May 16, however, net inflows have averaged $140 million per day, according to data from Farside Investors., led by IBIT, which has raised $1.1 billion over this period and continues to be the strongest of the ten funds. As of yesterday, IBIT held 291,563 bitcoins valued at $20.15 billion.