BlackRock's iShares Bitcoin Trust ETF attracted $875 million in fresh money on Wednesday.
These are the biggest inflows recorded by the product to date, according to data provided by SoSoValue.
IBIT has now surpassed a whopping $30.8 billion in net assets following its recent winning streak. It reached this milestone was reached in just 293 days, setting a new all-time record. The previous record was held by JPMorgan Equity Premium Income ETF (JEPI), which surpassed $30 billion in 1,272 days.
Alex DovbnyaNotably, IBIT managed to take in more money in a single day than all but seven of the 590 ETFs launched this year have taken in throughout the entire 2024.
Gamza KhanzadaevOther ETF products attracted relatively small inflows compared to IBIT. Fidelity Wise Origin Bitcoin Fund (FBTC) logged a relatively modest $12.57 million worth of inflows on Wednesday. FBTC has now surpassed $13.5 billion in net assets.
Meanwhile, Ethereum ETFs continue to suffer from lackluster demand. Yesterday, BlackRock's iShares Ethereum Trust ETF (ETHA) recorded zero inflows. Fidelity Ethereum Fund (FETH) recorded $5.6 million in fresh money, barely pushing these products into positive territory.
Arman Shirinyan
Vladislav Sopov
Dan Burgin