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The top asset manager, BlackRock, maintains leadership in the crypto ETF ecosystem. Its iShares Bitcoin Trust (IBIT) ETF has continued to enjoy massive inflows, signaling investors’ preference.
ETF surging inflows amid market volatility
As Nate Geraci, cofounder of the ETF Institute, highlighted in an X post, the iShares Bitcoin ETF recorded a staggering $1.5 billion inflows in just six trading days. This inflow surge places IBIT among the top five global ETFs amid 570 other ETFs.
Yuri MolchanAdditionally, the iShares Bitcoin ETF has raised $23 billion in investments since its launch in January 2024. This highlights the asset's popularity among investors and strong market demand.
The inflow is remarkable when viewed against the volatility of Bitcoin and the distrust of traditional investors in cryptocurrency and crypto ETFs.
Geraci has expressed shock that despite BlackRock Bitcoin ETF's extraordinary success within 10 months, some remain "naysayers."
He needed help understanding how some in the broader financial space still doubt the value and legitimacy of Bitcoin ETFs.
Investor interest vs. Bitcoin price "stagnation"
BlackRock’s performance continues to shock market watchers. On Oct. 21, data from Farside Investors revealed that IBIT recorded a $329 million inflow. Aside from Fidelity (FBTC), which managed $5.9 million, all others had zero inflows. The exceptions were Bitwise, Ark Invest, VanEck and Grayscale, with outflows of $22.1 million, $6.1 million, $7.6 million and $4.8 million, respectively.
As previously reported by U.Today, BlackRock stunned the ETF market with a $760 million inflow in just three days. The massive surge emphasizes growing institutional and retail investors’ interest in Bitcoin.
Arman ShirinyanHowever, some in the crypto ecosystem have expressed concerns that the massive interest in Bitcoin has yet to be reflected in the price of BTC. They stated that Bitcoin’s price ought to have skyrocketed along with the growing interest - particularly, that Bitcoin historically rallies in Uptober.
As of this writing, Bitcoin traded at $67,165.99, a 1.59% drop in the past 24 hours. Despite the limited impact of Bitcoin ETF products on the price, for now, the consensus is that this offering will make a difference.
Arman Shirinyan
Yuri Molchan
Vladislav Sopov
Dan Burgin