BlackRock's bitcoin ETF, IBIT, is now one of the top 10 ETFs of all time, at least in terms of maintaining its streak of daily investment inflows.
As of Tuesday, April 23, IBIT has recorded 70 days of inflows, meaning the fund has seen a positive increase in its total holdings of the underlying asset, in this case bitcoin spot. IBIT has yet to see a day of capital outflows, where its holdings have declined.
This milestone comes after a series of US spot bitcoin ETF approvals earlier this year, which have proven to be a huge success.
Since their launch, US bitcoin ETFs have surpassed an impressive $200 billion in total cumulative volume, demonstrating the high demand for bitcoin among investors.
BlackRock CEO Larry Fink has notably changed his stance on bitcoin recently. The company now holds more than 270,000 bitcoins, worth more than $18 billion, cementing its position as a major player in bitcoin ETFs. This change of heart by one of the world's largest asset managers is a testament to the growing widespread acceptance of bitcoin as a legitimate investment asset.
This comes after Bloomberg Senior ETF Analyst Eric Balchunas x.com/EricBalchunas/status/1782386163698835663″>cheep yesterday, “$IBIT's inflow streak is currently 69 DAYS. One more day and it will move into the Top 10 and tie $JETS.”
This achievement highlights the continued demand for IBIT and its ability to attract a steady flow of investments.
The success of IBIT and other US spot bitcoin ETFs sends a positive signal to other countries and traditional investors, demonstrating the high demand for bitcoin investment products.
The growing involvement of major institutional players like BlackRock is a clear indication that bitcoin is here to stay and will play an increasingly important role in the global financial landscape.
