BlackRock’s IBIT Bitcoin ETF Attracts $10 Billion in AUM

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Dailycoin2024/03/01 15:16

By:Dailycoin

BlackRock’s Bitcoin ETF has achieved a milestone.
The ETF now leads in terms of assets under management.
Meanwhile, Grayscale’s converted fund saw its second-largest daily outflows to date.

BlackRock’s IBIT spot Bitcoin ETF continued to reign over the other funds on Thursday after witnessing its second-largest daily inflows since it began trading on January 11.

The development comes on the heels of Bitcoin’s ongoing bullish momentum, which has seen the crypto asset record its biggest monthly rally since December 2020. As of press time, BTC exchanged hands at $62,494 after gaining 22.67% in the last seven days.

BlackRock’s Bitcoin ETF Tops $10B in AUM

Per BitMEX Research data , after netting $603.9 million on Thursday, just shy of the $612.1 million it recorded the previous day, BlackRock’s IBIT spot Bitcoin ETF amassed 162,697.9 Bitcoins (over $10 billion) in total assets under management.

The record positions BlackRock’s fund ahead of Fidelity’s FBTC spot Bitcoin ETF and Ark Invest 21 Shares’ ARKB, which now have 105,196.9 Bitcoins (about $6.4 billion) and 34,223.4 Bitcoins (about $2.1 billion) in AUM, respectively.

According to The ETF Store President Nate Geraci , BlackRock’s IBIT performance in the last seven weeks is impressive, given that only about 150 out of 3,400 exchange-traded funds have over $10 billion in AUM, with a majority having been launched over a decade ago.

Cumulatively, all nine newly launched spot Bitcoin ETFs now hold over 344,000 BTC in assets under management, excluding Grayscale’s converted GBTC fund.

Meanwhile, amid the spike in inflows into BlackRock’s Bitcoin ETF, Grayscale’s converted fund recorded $598.9 in outflows, its second-largest to date. The net inflows of all U.S.-based spot Bitcoin ETFs stood at $92.4 million as of Thursday, a significant drop from Wednesday’s $673.4 million.

Read how Bitcoin ETF volumes reached a new record:

Bitcoin ETF Volumes Hit Record-Breaking $8B as BTC Taps $64K

Stay updated on Justin Sun’s Bitcoin holdings:

Justin Sun’s BTC Holdings Exceeds HTX’s Total Bitcoin Reserves

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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