ETFs
Bitcoin ETFs Resume Winning Streak; BlackRock IBIT exceeds $20 billion in assets under management
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U.S.-traded spot Bitcoin ETFs added $2.4 billion worth of Bitcoin over the past month.
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This sequence follows a flat to negative period after an initial phase of euphoria.
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BlackRock’s iShares Bitcoin (IBIT) fund exceeds $20 billion in assets under management.
US-based spot Bitcoin ETFs completed 15 straight sessions of net inflows yesterday, with the latest rush of money accompanied by a surge in the price of {{BTC}} to send the iShares Bitcoin Fund (IBIT ) from BlackRock at over $20. billion in assets under management for the first time.
According to Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, ETFs generated about $2.4 billion in new money over the past month. This would be the third largest amount of net inflows in the entire ETF market.
“The ability to bounce back with renewed interest after a few selloffs is rare for hot sauce-style strategies,” Balchunas said in a statement. post on. “[It] shows some endurance.
After the initial euphoria over the launch of spot ETFs, inflows slowed significantly in April and even turned negative for several days, which experts said then. it was completely normal.
Since May 16, however, net inflows have averaged $140 million per day, according to data from Farside Investors., led by IBIT, which has raised $1.1 billion over this period and continues to be the strongest of the ten funds. As of yesterday, IBIT held 291,563 bitcoins valued at $20.15 billion.