Ever since BlackRock filed for its spot Bitcoin ETF final 12 months, Bloomberg ETF analysts Eric Balchunas and James Seyffart have been offering invaluable insights and information relating to every part Bitcoin ETFs. When you’re not already following both of them on X, I extremely suggest you do.
At present, Balchunas shared a brand new thoughts blowing statistic about BlackRock’s spot Bitcoin ETF IBIT particularly. During the last 4 years, there have been over 1,800 ETFs launched in the US. Out of all of these, IBIT has taken in probably the most inflows at over $26 billion {dollars}.
Nice stats, by no means ceases to amaze. I'll go one additional: within the final 4 years 1,800 ETFs have launched and $IBIT is probably the most profitable of all of them at $26b. https://t.co/8Nq6YwXhYj
— Eric Balchunas (@EricBalchunas) October 24, 2024
BlackRock had one other large influx of $323 million yesterday, massively outperforming all its opponents. I’m unsure if it’s simply their model title alone that is capable of out compete the opposite ETFs, or in the event that they’re advertising IBIT to their prospects behind the scenes that’s making their ETF a standout success. In all probability a little bit of each after which some.
These numbers as soon as once more spotlight that spot Bitcoin ETFs have been a smashing success in America. Since launch, these ETFs have collectively seen inflows in 9 out of the final 10 months, and I really feel like these inflows should not going to cease anytime quickly, particularly as we head additional into the bull market.
Whereas I might a lot fairly see buyers who maintain their very own keys, I perceive which may not be appropriate for giant companies and small retail buyers who don’t need the obligations that include self custody.
Whether or not you prefer it or not, the establishments are right here and they’re driving up the worth of Bitcoin (for now). I’m tremendous to see how these ETFs will maintain up in a bear market, and if they are going to HODL or if we are going to see file outflows. Solely time will inform.
This text is a Take. Opinions expressed are fully the writer’s and don’t essentially replicate these of BTC Inc or Bitcoin Journal.
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