BlackRock's Bitcoin ETF continues to gain momentum, standing out among other funds with significant inflows and high trading volume.
Success of BlackRock's Bitcoin ETF
By March 22, the 12 Bitcoin ETFs collectively held $94.35 billion in BTC. BlackRock's IBIT led the way with nearly $105 million in inflows on just one day, March 21. The ETF's trading volume reached $1.3 billion.
Status of Other Bitcoin ETFs
Bitcoin ETFs collectively drew in more than $785 million over the last six days. The largest influx was seen in BlackRock's IBIT with over $486 million, while Fidelity and Ark Invest also demonstrated positive results compared to other funds.
Growing Institutional Interest in Bitcoin
Institutional demand for Bitcoin has been growing rapidly since the collapse of the FTX exchange in 2022. Since February, 172,705 BTC have been acquired. Analysts expect that US pension funds and TDFs could additionally inject $1–2 billion into the cryptocurrency market.
The ongoing growth of BlackRock's Bitcoin ETF and the rising institutional interest underscore Bitcoin's strength and attractiveness as an investment vehicle.
