Since BlackRock filed for its spot Bitcoin ETF last year, Bloomberg ETF analysts Eric Balchunas and James Seyffart have been providing valuable information and data on everything related to Bitcoin ETFs. If you don’t already follow any of them on X, I recommend you do so.
Today, Balchunas shared a mind-blowing new statistic about the IBIT of the BlackRock Spot Bitcoin ETF specifically. In the last four years, more than 1,800 ETFs have been launched in the United States. Of all of them, IBIT has received the largest amount of inflows with more than 26 billion dollars.
BlackRock had another giant inflow of $323 million yesterday, vastly outpacing all of its competitors. I’m not sure if it’s just their brand that can outperform the other ETFs, or if they are marketing IBIT to their clients behind the scenes that makes their ETF a standout success. Probably a little of both and then some.
These numbers once again highlight that Bitcoin spot ETFs have been a resounding success in the United States. Since their launch, these ETFs have collectively seen tickets in 9 of the last 10 months, and I feel like these inflows are not going to stop anytime soon, especially as we get deeper into the bull market.
While I would prefer to see investors holding their own keys, I understand that this might not be suitable for large corporations and small retail investors who don’t want the responsibilities that come with self-custody.
Whether you like it or not, institutions are here and they are driving up the price of Bitcoin (for now). I am very interested to see how these ETFs will hold up in a bear market and if they will be HODLed or if we will see record outflows. Only time will tell.
This article is a Carry. The opinions expressed are entirely those of the author and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
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