BlackRock's Bitcoin ETF, IBIT, is now one of the top 10 ETFs of all-time, at least when it comes to maintaining its streak of daily investment inflows.
As of Tuesday, April 23, IBIT has seen 70 days of inflows, meaning that the fund has seen a positive increase in its total holdings of the underlying asset, in this case spot Bitcoin. IBIT has yet to see a day of outflows, in which its holdings have declined.
This milestone comes after a series of US Spot Bitcoin ETF approvals earlier this year, which have proven to be hugely successful.
Since their launch, US Bitcoin ETFs have crossed an impressive $200 billion in total cumulative volume, demonstrating the high demand for Bitcoin among investors.
BlackRock's CEO, Larry Fink, has notably changed his stance on Bitcoin recently. The company now holds more than 270,000 bitcoins, worth over $18 billion, solidifying its position as a major player in Bitcoin ETFs. This shift in attitude from one of the world's largest asset managers is a testament to the growing mainstream acceptance of Bitcoin as a legitimate investment asset.
This comes after Eric Balchunas, a senior ETF analyst at Bloomberg tweet yesterday, "$IBIT inflow streak currently at 69 DAYS. one more day and it moves into Top 10 and ties $JETS."
This achievement highlights the consistent demand for IBIT and its ability to attract a steady stream of investment.
The success of IBIT and other US Spot Bitcoin ETFs sends a positive signal to other countries and traditional investors, demonstrating the high demand for Bitcoin investment products.
The increasing involvement of major institutional players like BlackRock is a clear indication that Bitcoin is here to stay and will play an increasingly important role in the global financial landscape.
Source: Bitcoin Magazine - Bitcoin News, Articles and Expert Insights