{"id":571946,"date":"2024-01-27T13:51:55","date_gmt":"2024-01-27T13:51:55","guid":{"rendered":"https:\/\/wncen.com\/?p=571946"},"modified":"2024-06-11T06:58:25","modified_gmt":"2024-06-11T06:58:25","slug":"blackrocks-ibit-maintains-lead-in-bitcoetf-market-crosses-2-billion-in-inflows","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/blackrocks-ibit-maintains-lead-in-bitcoetf-market-crosses-2-billion-in-inflows\/","title":{"rendered":"BlackRock\u2019s IBIT Maintains Lead In Bitcoin ETF Market, Crosses $2 Billion In Inflows"},"content":{"rendered":"
According to data from BitMEX Research<\/a>, BlackRock\u2019s Bitcoin spot ETF – IBIT –\u00a0 has now set a new record, achieving a total net inflow of $2 billion. This feat allows IBIT to maintain its position as the best-performing fund of the bunch, following the approval of 11 Bitcoin spot ETFs<\/a> by the US Securities and Exchange Commission on January 10.<\/span><\/p>\n On January 25, which marked the tenth trading day of the Bitcoin spot ETF market, BlackRock\u2019s IBIT produced an unsurprising positive performance, notching $170.7 million in inflows. This gain allowed the investment fund to move into an exclusive list as the first Bitcoin spot ETF to amass $2 billion in market cap.<\/span><\/p>\n Commenting on this feat, Bloomberg analyst James Seyfarrt has credited<\/a> the recent rise in BTC\u2019s price as a major contributing factor. He said:<\/p>\n Yes, the<\/span> #Bitcoin<\/span><\/a> price has pushed<\/span> $IBIT<\/span><\/a>‘s assets beyond $2 billion. This plus likely new flows today should mean it will be above $2 billion at close.<\/span><\/p><\/blockquote>\n Following the trading debut of BTC spot ETFs on January 11, IBIT quickly emerged as an investor\u2019s favorite, recording the highest individual daily inflows of the market at $386 million on January 12. BlackRock\u2019s BTC spot ETF has managed to retain this investors\u2019 attention over the first two trading weeks, evidenced by its consistent positive performances, which has culminated in a total flow of $2.086 billion.<\/span><\/p>\n IBIT\u2019s performance is closely followed by Fidelity\u2019s FBTC,<\/a> which recorded $101 million in inflows on January 25, moving its total flows to $1.825 billion. Meanwhile, other Bitcoin spot ETFs with notable performances include Bitwise\u2019s BITB and Ark Invest\u2019s ARKB, both of which boast individual cumulative AUMs of over half a billion dollars.<\/span><\/p>\n In other news, the outflows in Grayscale\u2019s GBTC remain a constant trend; however, there has been a notable decline in selling volume over the last few days. At the time of writing, GBTC’s total outflow is valued at $4.786 billion. In comparison with a cumulative inflow of $5.53 billion, total flows in the Bitcoin spot ETF market stand at $744.6 million.\u00a0<\/span><\/p>\n At press time, Bitcoin is currently trading at $41,725.19 following a 4.52% price gain in the past day, according to data from CoinMarketCap<\/a>. This recent uptick is quite significant, considering the asset\u2019s previous bearish form, marked by a 20% decline over the last two weeks which resulted in BTC\u2019s dipping below $39,000.\u00a0<\/span><\/p>\nBlackRock\u2019s IBIT Maintains Dominance As Total Net Flows Reach $744.6 Million<\/span><\/h2>\n
Source: BitMEX<\/pre>\n
Bitcoin Price Overview<\/span><\/h2>\n