BlackRock’s IBIT Bitcoin ETF Hits $15 Billion in Inflows Just Three Months After Launch
BlackRock’s IBIT spot bitcoin ETF has achieved a record $15 billion in inflows, outperforming other funds and marking a significant milestone just three months post-launch. Amidst robust trading and aggressive marketing strategies, the fund’s performance highlights growing investor interest in bitcoin ETFs.
Yesterday marked a significant milestone for BlackRock’s IBIT spot bitcoin exchange-traded fund, which recorded $15 billion in total inflows exactly three months after its debut on January 11.
“IBIT is up over 50% and has taken in $15 billion in new cash in three months; both of those numbers are double any other BlackRock ETF, and they have 421 of them,” stated Bloomberg ETF analyst Eric Balchunas on Thursday. “That is about as hot as the iron gets.”
In a dominant performance, IBIT led the inflows among U.S. spot bitcoin ETFs yesterday, adding $192.1 million, which notably overshadowed the $124.9 million outflows from Grayscale’s higher-fee GBTC fund, as per CoinGlass data.
Other funds like Bitwise’s BITB, Valkyrie’s BRRR, and Fidelity’s FBTC also saw inflows, totaling $11.1 million, $8.4 million, and $4.6 million, respectively. Despite these additions, the overall daily net inflow for spot bitcoin ETFs was $91.3 million, with total net flows now at $12.9 billion. Notably, inflows have decelerated since reaching a peak daily net of $1.05 billion on March 12, coinciding with bitcoin’s approach to its latest high of $73,836, according to The Block.
Amid this financial activity, BlackRock has ramped up its advertising efforts for IBIT as competition intensifies. “iShares going all-in on spot bitcoin ETF ads. I count seven banner ads just scrolling the Bloomberg home page,” commented Nate Geraci, President of The ETF Store. “Remember, we’re only three months in here. [The] marketing war is still just getting started.”
Trading volume for spot bitcoin ETFs remained robust on Thursday, totaling $2.5 billion, with IBIT accounting for $1.1 billion of this activity. This follows a record trading volume of $9.9 billion on March 5, correlating with bitcoin surpassing its previous peak of approximately $69,000.
As of the latest update, BlackRock’s IBIT manages more than 266,000 BTC (around $18.9 billion), excluding yesterday’s inflows. “iShares Bitcoin ETF is now in top 100 of all ETFs by assets,” Geraci announced. “That’s out of nearly 3,500 ETFs. [It] did this in three months.” Additionally, Fidelity’s FBTC and Ark Invest 21 Shares’ ARKB hold substantial bitcoin assets, with FBTC surpassing 151,000 BTC ($10.7 billion) and ARKB over 43,000 BTC ($3 billion).
As for the aggregate, the nine new spot bitcoin ETFs—excluding the converted GBTC fund—now manage over 524,000 BTC ($37 billion) in assets.
Conversely, the assets under GBTC have fallen dramatically by 49% to just under 316,000 BTC ($22 billion) from about 619,000 BTC since the introduction of spot bitcoin ETFs.
Bitcoin’s current price stands at $70,774, exhibiting stability over the last 24 hours, a 5% gain over the past month, and an impressive 67% increase year-to-date.
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