BlackRock Bitcoin ETF IBIT Enters Top 10 ETF List With Longest Inflows

BlackRock's IBIT Bitcoin ETF joins the ranks of top ten ETF list amid 70 consecutive days of inflows. Wealth managements firms likely to increase exposure to BTC ETFs.
By Bhushan Akolkar
US Bitcoin ETF Outflow BTC Price

Highlights

  • BlackRock's Bitcoin ETF, IBIT, records 70 consecutive days of inflows making new record.
  • BlackRock is closing the gap with GBTC to become largest Bitcoin fund in the market.
  • BlackRock's IBIT finds a spot among the world's most-successful ETFs till date.

On Monday, April 22, the BlackRock Bitcoin ETF IBIT registered yet another inflow of $19.4 million, registering 70 consecutive days of inflows ever since launch. This puts BlackRock’s IBIT ETF into the top-ten exchange-traded-funds recording the largest daily streak of inflows.

BlackRock Bitcoin ETF IBIT Shines

So far, BlackRock’s IBIT Bitcoin ETF has amassed more than $15.4 billion worth of Bitcoins as of its current price. While on the one hand, BlackRock has been recording continuous inflows, the Grayscale Bitcoin ETF has registered continuous outflows on the other hand. BlackRock’s IBIT has been swiftly closing the gap with GBTC and could soon become the largest Bitcoin fund in the market.

Earlier today, Bloomberg’s senior ETF analyst Eric Balchunas shared a chart on X, highlighting the potential milestone for BlackRock’s fund, IBIT. If IBIT manages to sustain its streak of 70 consecutive days of net inflows, it will join the ranks of some of the most successful exchange-traded funds in history.

“IBIT inflow streak currently at 69 days. One more day and it moves into the top 10 and ties JETS,” Balchunas noted. The JETS exchange-traded fund, which holds shares in companies within the airline industry, has also achieved 70 consecutive days of inflows, as per Balchunas’ data. Prior to today, JETS held the tenth position in this regard.

According to the Bloomberg analyst’s post, the JPMorgan Equity Premium Income ETF (JEPI) currently holds the record for the longest streak of daily inflows, standing at an impressive 160 consecutive days.

Snapshot of Inflows

Yesterday, April 22, saw significant movements in the Bitcoin spot ETF market. Total net inflows amounted to $62.0899 million, while Grayscale GBTC experienced a single-day net outflow of $34.993 million. Conversely, Fidelity ETF FBTC recorded a single-day net inflow of US$34.8334 million.

Over the past three sessions, Fidelity’s FBTC has outpaced BlackRock’s IBIT in terms of daily inflows. The historical cumulative net inflow for Bitcoin spot ETFs has now reached an impressive US$12.384 billion. Bitwise CEO recently stated that wealth management firms are likely to further increase their exposure to Bitcoin ETF.

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Bhushan Akolkar
Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.
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