Summary
BlackRock’s new Bitcoin ETF received $612 million in inflows, making it the most popular among 10 approved Bitcoin ETFs. The iShares Bitcoin Trust now has over $8.5 billion in assets under management. While Grayscale’s Bitcoin fund is experiencing outflows, interest in ETFs is driven by both institutional and retail investors. Investment firms are already looking for the next big thing, with BlackRock seeking approval for a spot Ethereum ETF.
Key Points
1. BlackRock’s newly approved Bitcoin exchange-traded fund (ETF) received over $612 million in inflows yesterday, indicating strong investor interest in the digital commodity.
2. The 10 spot Bitcoin ETFs collectively experienced $673.4 million in inflows, with BlackRock’s new fund being the most popular among them.
3. Interest in Bitcoin ETFs is being driven by both institutional and retail investors, with investment firms already looking towards the next big thing, such as a potential spot Ethereum ETF being pursued by BlackRock.