Bitcoin
BlackRock BTC ETF Reaches $20 Billion in AUM
US-based bitcoin spot ETFs yesterday completed 15 consecutive sessions of net inflows, with the latest rush of money combined with a rally in the price of (BTC) to send BlackRock’s iShares Bitcoin Fund (IBIT) to over $20 billion in assets under management for the first time.
According to Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, ETFs raised about $2.4 billion in new money last month. This would be the third largest amount of net inflows in the entire ETF market.
“The ability to bounce back with renewed interest after some nasty selling is rare for hot sauce-type strategies,” Balchunas said in a statement. post on X. “[It] shows staying power.
After the initial euphoria over the launch of spot ETFs, inflows slowed significantly in April and even turned negative for several days, an occurrence experts said then it was very normal.
Since May 16, however, net inflows have averaged $140 million per day, according to data of Farside Investors., led by IBIT, which raised US$1.1 billion in this period and continues to be the strongest of the ten funds. IBIT yesterday held 291,563 bitcoins valued at US$20.15 billion.