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BlackRock's IBIT Attracts Record $1.5 Billion Over Six Days

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3 hours ago

BlackRock's iShares Bitcoin Trust (IBIT) recorded $329 million worth of inflows on October 21, underscoring the product's success in the Bitcoin ETF market.

Record Inflows for IBIT

Nate Geraci, co-founder of The ETF Institute, noted that the fund has absorbed $1.5 billion over the past six trading days. This achievement makes IBIT one of the most successful launches of the year. Since January, the fund has attracted a total of $23 billion.

Comparison with Other Bitcoin ETFs

IBIT has significantly outpaced its competitors in the Bitcoin ETF race, having net inflows that surpass the total net flows of all ETFs combined. In contrast, many other Bitcoin ETFs have posted negative results.

Overall Bitcoin ETF Market Situation

The Bitwise Bitcoin ETF (BITB) recorded outflows of $22.1 million. VanEck's HODL ETF showed losses of $7.6 million. The ARK 21Shares Bitcoin ETF (ARKB) and the Grayscale Bitcoin Trust (GBTC) also reported outflows of $6.1 million and $4.8 million, respectively.

The disparity in the performance of various Bitcoin ETFs highlights IBIT's market dominance, driven by its notable inflows and investor trust.

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