BlackRock’s Bitcoin (BTC) exchange-traded fund (ETF) IBIT became the most successful ETF launch in over 10 years, following $418.8 million in net flows recorded on December 16.
Nate Geraci, CEO of The ETF Store, highlighted that IBIT had beaten about 2,850 ETFs. He added:
“Put simply, IBIT generates more lifetime inflows than any ETF launched since 2014. This was done in just over (11 months).”
Since its launch, IBIT has accumulated $36.3 billion in positive net flows, surpassing the $36.2 billion in inflows received by U.S.-traded spot Bitcoin ETFs, according to Farside Investors. data.
The amount is nearly 3 times the $12.4 billion in inflows received by the second-largest spot Bitcoin ETF, FBTC, managed by Fidelity.
Additionally, IBIT holds the record for the largest daily inflow among Bitcoin ETFs, with over $1.1 billion captured in a single day. This is more than 2 times higher than FBTC’s single-day inflow record of $473.4 million, the second-largest daily inflow for a spot Bitcoin ETF.
Notably, spot Bitcoin ETFs have secured over $36 billion in flows year-to-date despite Grayscale’s $21 billion in outflows from GBTC since its conversion.
ETFs in the spotlight
Crypto-related ETFs have been one of the key market topics this year. They provided a regulated way for US-based institutional investors to gain exposure to Bitcoin and Ethereum (ETH).
Analysts see crypto ETFs as one of the main drivers of Bitcoin’s meteoric growth this year. In a recent reportBitfinex analysts highlighted that ETF adoption is one of the key catalysts capable of changing Bitcoin patterns from previous cycles.
Additionally, Eric Balchunas, Senior ETF Analyst at Bloomberg highlighted how fast Bitcoin ETFs are growing. Total assets under management by these U.S.-traded products, including futures and leveraged ETFs, reached $130 billion, surpassing the $128 billion of gold ETFs.
Even taking just nearly $117 billion in assets under management from Bitcoin ETFs to spot, Balchunas said it’s “unreal” how close they are to gold ETFs in just 11 months after their launch. Bitwise also considers ETFs as one of the two main catalysts of significant growth of Ethereum over the next year.
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Gino Matos
Gino Matos is a law school graduate and seasoned journalist with six years of experience in the crypto industry. His expertise mainly focuses on the Brazilian blockchain ecosystem and developments in decentralized finance (DeFi).
