Summary
TLDR: BlackRock’s Bitcoin spot ETF has seen 70 consecutive days of growth, aiming to reach 160 days to tie with JP Morgan’s JEPI. The fund has had more deposits than withdrawals every trading day since January. Despite concerns over the Bitcoin halving, BlackRock’s success suggests investors are not worried, with assets under management now at $18.15 billion.
Key Points
1. BlackRock’s Bitcoin spot exchange-traded fund (ETF) has seen its assets under management rise to $18.15 billion, with more deposits than withdrawals for 70 consecutive trading days.
2. The fund, with the ticker IBIT, has broken into the top 10 for the longest ETF daily inflow streaks since 2004, tying with the U.S. Global Jets ETF.
3. Despite concerns about the Bitcoin halving causing uncertainty among investors, BlackRock’s success suggests that the event did not have a negative impact on investor sentiment, with inflows of around $60 million on the trading days surrounding the halving.