Highlights
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.
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.
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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