News - BlackRock's IBIT among top 5 ETFs

By Ted Maas

BlackRock's IBIT among top 5 ETFs

Bitcoin (BTC)

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.

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.

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