BlackRock leads U.S. Bitcoin ETF market with $394M Inflows
Bitcoin ETFs thrive as IBIT inflows hit $394M in a day.
The BlackRock iShares Bitcoin Trust ETF (IBIT) continues to dominate the cryptocurrency investment market, even as Bitcoin prices struggle with volatility.
On Monday, December 9, IBIT recorded significant inflows of $394 million, despite Bitcoin's price dropping below $95,000 after failing to maintain the $100,000 level, according to CoinGape.
Record inflows and growing demand
IBIT's daily trading volume surged to $3 billion, reflecting strong demand from institutional investors. Over the last seven sessions, IBIT has attracted more than $3.1 billion, bringing its total net inflows since inception to $34.7 billion.
Amid this high demand, the BlackRock Bitcoin ETF surpassed $50 billion in assets under management (AUM), achieving this milestone in just 228 days. This makes it the fastest ETF in history to reach the $50 billion mark, outpacing the gold ETF GLD, which took 5.5 years to reach the same level.
Other Bitcoin ETFs show growth
While BlackRock leads the market, Fidelity’s Bitcoin ETF (FBTC) also reported a notable $175 million in net inflows on Monday, increasing its total historical inflows to $11.89 billion. Meanwhile, according to Farside Investors, Grayscale’s Bitcoin Mini Trust ETF saw $7.2 million in net inflows, bringing its total to $894 million. However, Grayscale’s flagship GBTC fund continued to face challenges, with net outflows of $24.44 million, pushing its total historical outflows to $20.85 billion.
ETF holdings surpass Satoshi Nakamoto
Bitcoin ETFs collectively now hold over 1.1 million BTC, surpassing the estimated holdings of Bitcoin's mysterious creator, Satoshi Nakamoto. This highlights the growing influence of institutional players in the cryptocurrency sector.
Despite market turbulence, Bitcoin ETFs like BlackRock’s IBIT are transforming the cryptocurrency investment landscape by attracting massive inflows and achieving historic milestones, signaling increasing institutional confidence in digital assets.
Notably, BlackRock recently obtained a commercial license to operate in Abu Dhabi, further expanding its global presence.
