Since BlackRock filed for a spot Bitcoin ETF last year, Bloomberg ETF analysts have… Eric Balchunas and James Seyphart We have been providing valuable insights and data regarding everything related to Bitcoin ETFs. If you don’t already follow either of them on X, I highly recommend you do so.
Today, Balchunas shared a startling new statistic about BlackRock’s spot Bitcoin ETF IBIT specifically. Over the past four years, more than 1,800 ETFs have been launched in the United States. Of all of these, IBIT accounted for the largest amount of inflows at over $26 billion.
Great statistics, never cease to amaze. I’ll go further: In the past four years, 1,800 ETFs have been launched $ go It is the most successful of all time with $26 billion. https://t.co/8Nq6YwXhYj
– Eric Balchunas (@EricBalchunas) October 24, 2024
BlackRock secured another massive $323 million inflow yesterday, significantly outperforming all of its competitors. I’m not sure if it’s their brand name alone that can compete with other ETFs, or if they’re marketing IBIT to their clients behind the scenes making their ETFs a notable success. Maybe a little of both and then some.
These numbers highlight once again that spot Bitcoin ETFs have been an overwhelming success in America. Since their launch, these ETFs have seen each other go together Inflows In the last 9 out of 10 months, I feel like these flows are not going to stop anytime soon, especially as we head into a bull market.
Although I would prefer to see investors holding their own keys, I understand that this may not be suitable for large companies and small individual investors who do not want the responsibilities that come with self-custody.
Like it or not, institutions are out there working to drive up the price of Bitcoin (for now). I’m very interested to see how these ETFs will hold up in a bear market, whether they will rally or if we will see record outflows. Only time will tell.
This article is a takes. The opinions expressed are entirely those of the author and do not necessarily reflect the opinions of BTC Inc or Bitcoin Magazine.
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