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Highlights
- Out of all the ETFs that got trading approval, Blackrock has seen the highest inflows so far
- In terms of year-to-date flows, Blackrock's IBIT is currently among the top five
- Blackrock's Bitcoin ETF has received more money than 99.98% of ETFs.
The approval of the Bitcoin ETF was an important milestone that gave the virtual asset a mainstream platform and reshaped the whole digital currency space. Out of all the ETFs that got trading approval, BlackRock has seen the highest inflows so far. With stronger inflows than any other ETF, it has ranked fifth in the over ETF chart, giving a signal that more and more investors are hoping for the crypto bandwagon.
BlackRock ranks in top five ETFs
Bloomberg analyst Eric Balchunas in an X post expressed his bullish remarks about BlackRock’s Bitcoin ETF. In the post Balchunas wrote that in terms of year-to-date flows, BlackRock’s IBIT is currently among the top five, meaning it has received more money than 99.98% of ETFs.
For a 17-day-old ETF, it seems to be a pretty good performance. However, for those other Bitcoin ETFs, that are a little underperforming, Balchunas had previously said that it might take a little while for them to pick pace, but they will see growth in the future.
BlackRock and Fidelity take the top spot among Bitcoin ETFs
BlackRock’s IBIT reportedly attracted more investment in January than any of its competitors. Currently, it has seen total inflows stand at $3.19 billion. Second place on the list went to Fidelity’s FBTC, which has a net asset value of $2.66 billion. With $20.39 billion worth of BTC held, Grayscale’s ETF is currently the biggest. However, although nine new spot ETFs attracted a lot of investment in January, GBTC has seen outflows totaling around $6 billion.
Will ETFs grow even further?
According to a recent report by CoinGape, the spot Bitcoin ETF has experienced substantial growth since its inception in US markets, with a total inflow of $1.55 billion. The surge in capital shows how investors are becoming more and more interested in and accepting of digital currencies.
The ETFS had a fantastic first week following its January 11 launch, generating a net inflow of $1.06 billion. With over 100,000 BTC in assets under management (AUM)—which, when Grayscale’s Bitcoin Trust (GBTC) is taken out of the picture, is believed to be worth US$4 billion—the ETF got off to a great start that demonstrated its initial popularity. As of today, the market has priced in good near-term growth for Bitcoin ETFs.
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