As an analyst with over two decades of experience in the financial markets, I’ve witnessed numerous trends come and go, but none quite like the meteoric rise of Bitcoin-related ETFs. Today’s news about BlackRock’s iShares Bitcoin Trust (IBIT) is nothing short of astonishing. In just 293 days, it has amassed over $30 billion in net assets, shattering previous records and leaving other ETFs in its dust.
BlackRock’s iShares Bitcoin Trust ETF attracted $875 million in fresh money on Wednesday.
Based on data from SoSoValue, these are the largest amounts of inflow the product has ever received.
After an impressive winning run, IBIT has exceeded an astounding $30.8 billion in total assets. Notably, this record-breaking milestone was achieved in a mere 293 days, smashing the previous best set by JPMorgan Equity Premium Income ETF (JEPI), which took 1,272 days to reach $30 billion.
Remarkably, IBIT collected more funds on a single day than all but seven of the 590 ETFs introduced this year accumulated over the entire year of 2024.
On Wednesday, the Fidelity Wise Origin Bitcoin Fund (FBTC) saw relatively smaller investments compared to other ETFs, with an inflow of approximately $12.57 million. Currently, FBTC’s total net assets have exceeded $13.5 billion.
Currently, there’s not much interest in Ethereum Exchange Traded Funds (ETFs), as shown by yesterday’s data. Specifically, BlackRock’s iShares Ethereum Trust ETF (ETHA) didn’t attract any new investments, while Fidelity Ethereum Fund (FETH) received a small influx of $5.6 million, barely moving these products out of the negative.
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2024-10-31 09:32