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News - BlackRock's IBIT among top 5 ETFs
Since its launch, BlackRock's Bitcoin ETF, IBIT, has shown impressive inflows, outperforming most of its global competitors in just 17 days.
According to Bloomberg, IBIT now ranks fifth, behind only four other ETFs, including those from BlackRock and Vanguard, raising more money than 99.98% of ETFs over the same period.
Also $IBIT now in Top 5 in YTD flows, which means it's taken in more cash than 99.98% of ETFs. Not bad for 17 days old. pic.twitter.com/ehAsZWRoqK
— Eric Balchunas (@EricBalchunas) February 6, 2024
The rise of Bitcoin Spot ETFs in the U.S.
The approval of Bitcoin Spot ETFs by the SEC on Jan. 10 marked a turning point, with trading starting the following day. Financial products from BlackRock, Fidelity, Ark Invest and Bitwise have since attracted significant interest, while Grayscale's Bitcoin ETF faced significant selling. Together, BlackRock and Fidelity's ETFs have amassed nearly $6 billion in assets, with BlackRock accounting for about $3.2 billion.
