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Highlights
- On Monday, BlackRock Bitcoin ETF recorded $266 million in inflows, with a daily trading volume of $2.3 billion.
- With $72 billion in assets under management, IBIT dominates 54% of the total ETF market AUM.
- The IBIT share price surged 3.5% on Monday, breaking the $60 resistance and gaining over 40% from its April lows.
BlackRock Bitcoin ETF (IBIT) continues its aggressive accumulation, recording $266 million in inflows on Monday and surpassing the $50 billion milestone since its inception. This achievement solidifies IBIT as one of the fastest ETFs to reach this benchmark, commanding a 54% share of the BTC ETF market. Meanwhile, Donald Trump’s Truth Social is making headlines with its ambitious entry into the ETF space.
BlackRock Bitcoin ETF Dominates with 54% Market Share
As Trump Media’s Truth Social platform seeks to enter the Bitcoin ETF space, BlackRock’s iShares Bitcoin Trust (IBIT) has been absolutely dominating the space by hitting $50 billion in inflows for the first time since inception. As per the data from Trader T, BlackRock’s IBIT, scooped a total of 2,464 Bitcoins, worth $264 million. Also, it clocked a daily trading volume of $2.3 billion during yesterday’s trading sessions.
As of now, the total assets under management for BlackRock’s iShares Bitcoin Trust currently stand at $72 billion, grabbing a massive 54% market share from the total Bitcoin ETF AUM size of $131 billion.
Apart from BlackRock Bitcoin ETF, Fidelity FBTC, and Ark Invest’s ARK saw $83 million and $41 million inflows, respectively, taking the total inflows to over $408 million across all issuers, as per Farside Investors data. The data also shows that BlackRock completely decimates the competition with its immediate competitor, Fidelity’s FBTC, having just $11.6 billion in inflows since inception.
IBIT Share Price Jumps 3.5%
Spot Bitcoin ETFs have initiated a new inflow streak, quietly gaining momentum. Over the past six trading days, these funds have attracted $1.8 billion in fresh investments, bringing the total inflows for the year to approximately $11 billion.
As a result, the IBIT share price also gained momentum with 3.5% gains on Monday, moving past the crucial resistance of $60. In recent weeks, IBIT has been seeing strong trading activity. From the April lows of $44, the stock is already up by more than 40%, crossing $60.
However, if inflows into BlackRock Bitcoin ETF continue, the IBIT share price can gather momentum further. Currently, Bitcoin price is trading 1% up at $107,368 levels. Any move to its all-time highs could lead to greater institutional inflows in the ETFs.
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