NewsletterBlackRock Bitcoin ETF Inflows Shoot $50 Billion, IBIT Share Jumps 4%
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.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Breaking: JPMorgan Issues Short-Term Bond on Solana as Institutions Move Markets On-Chain
- Breaking: 21Shares XRP ETF Launches as XRP Funds Extend Inflows Streak
- Are DATs Being Targeted? Strategy CEO Questions MSCI’s Proposed Exclusion From Global Indices
- Crypto Bill Talks Stall as Senate Democrats Push Back on Stablecoin Yield Provisions
- Breaking: Coinbase Adds Supports For Solana Tokens On DEX Trading
- Ethereum price prediction following $57.6M ETF Inflows – What’s Coming?
- Here’s Why Solana Price Could Explode to $150 Soon
- XRP Price Hits Crucial Support as ETF Inflows and Top RLUSD Metrics Soar
- Dogecoin Price Set to Rebound to $0.20 After Symmetrical Triangle Breakout
- Cardano Price Dips 10% as Midnight Token Launch Turns Sour
- Bitcoin Price Holds $90k as Markets React to Fed Rate Cut: Will BTC Rally to $100k or Fall to $80k?
