BlackRock’s Bitcoin ETF, IBIT, is approaching a noteworthy accomplishment as it records its 69th consecutive day of inflows. This feat positions IBIT just short of joining the elite top 10 ETFs with the longest daily inflow streaks, currently sharing this distinction with JETS, the U.S. Global Jets ETF.
Eric Balchunas, an acknowledged ETF authority at Bloomberg, has been keeping a close eye on IBIT’s impressive upward trend, finding it noteworthy.
In a market where staying consistent is important, IBIT’s exceptional performance sets it apart. Unlike other leading competitors in the Longest Daily Inflows Streak, IBIT is the lone representative of the emerging Bitcoin ETF category. While traditional ETFs hold the majority of the top spots, IBIT’s inclusion underscores the increasing institutional interest in digital assets.
The ongoing $IBIT inflow run now lasts for 69 consecutive days. With just one more day, it will join the Top 10 longest such runs and match $JETS’ streak. It would be quite amusing if this streak ended tomorrow! – @thetrinianalyst (This version attempts to maintain the original tone and meaning while using simpler sentence structures and more natural phrasing.)
— Eric Balchunas (@EricBalchunas) April 22, 2024
A picture included in the post highlights IBIT’s rising position in the rankings, as evidenced by the Longest Daily Inflows Streak chart demonstrating the consistent addition of investor funds. At present, JEPI US Equity occupies the leading spot, boasting a remarkable streak of 160 consecutive days with the largest daily inflows, creating a challenging standard for BlackRock’s Bitcoin ETF to emulate.
Bitcoin ETFs doing numbers
Over the past 69-day period, IBIT experienced a significant surge in investments amounting to $17.58 billion. This influx led to an amassment of approximately 273.6 million BTC, demonstrating strong investor faith in the ETF and the larger cryptocurrency sector.
As IBIT approaches entering the elite group of the top 10 cryptocurrencies, excitement builds up in the Bitcoin ETF sector. Regardless of whether IBIT goes up or experiences a setback, this process highlights the intriguing interaction between conventional finance and the volatile world of cryptocurrencies.
Read More
- BCH PREDICTION. BCH cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- MNT PREDICTION. MNT cryptocurrency
- USD PHP PREDICTION
- SOL PREDICTION. SOL cryptocurrency
- USD COP PREDICTION
- ZKJ PREDICTION. ZKJ cryptocurrency
- USD MYR PREDICTION
- PSTAKE PREDICTION. PSTAKE cryptocurrency
2024-04-22 17:54