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Highlights
- Amongst all the newly launched ETFs, Blackrock has surged the most in terms of market size, reaching the top 7% ranking in the market.
- With almost half a billion dollars raised yesterday, Blackrock's IBIT is currently soaring in terms of inflows.
- Right now, the market is pricing all of the recently introduced ETFs to do well in the short term and, in the long run, turn out to be a sustainable investment.
Bitcoin ETFs have seen a steady surge in net inflows and trading in the past couple of weeks. The surge has come after the ETFs had previously struggled to gain momentum. Amongst all the newly launched ETFs, Blackrock has surged the most in terms of market size, reaching the top 7% ranking in the market.
Blackrock Bitcoin ETF ascends in market size
With almost half a billion dollars raised yesterday, Blackrock’s IBIT is currently soaring in terms of inflows. Bloomberg analyst Eric Balchunas in an X post says that in just 23 trading days, IBIT has risen to over $5 billion, placing it in the top 7% of all ETFs by market capitalization. He adds that “this is an exceptionally robust second wind for a conventionally new offering.”
Bitcoin ETF’s net inflows reach $631 million
With $4 billion in net inflows to date, spot Bitcoin ETFs have seen significant inflows recently. Furthermore, the 11 Bitcoin ETFs saw the most single-day net inflow of $631 million on Tuesday, February 13. The current increase in the price of Bitcoin is a result of the financial inflow into these funds.
According to statistics from Farside, the iShares Bitcoin ETF (IBIT) managed by BlackRock saw a remarkable surge in investments, with a whopping $493 million influx recorded on Tuesday. BlackRock has significantly outpaced its competitors in this regard. Following closely behind, Fidelity recorded the second-highest inflow on Tuesday, amounting to $163 million.
Conversely, the outflows from Grayscale’s GBTC have notably decelerated, remaining below $100 million over the past three days of this week. Overall, Bitcoin ETFs have witnessed a net inflow of $3.7 billion. BlackRock, the asset management giant, has observed a net inflow of $4.6 billion, whereas GBTC has experienced net outflows totaling $6.5 billion.
What to expect in the future?
According to Bloomberg, a month after its introduction, Bitcoin ETFs are showing undeniable success on crucial trading indicators, according to both ETF experts and cryptocurrency proponents. The introduction of Bitcoin ETFs showed that conventional investment vehicles are still required to give investors exposure to Bitcoin. The markets’ acknowledgment of digital assets as a viable asset class is indicative of the maturing state of the cryptocurrency ecosystem. Future growth in the market size and assets under management for Bitcoin ETFs is expected. Right now, the market is pricing all of the recently introduced ETFs to do well in the short term and, in the long run, turn out to be a sustainable investment.
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