Posted 2/16/2024, 7:31:01 PM
BlackRock's Bitcoin ETF Dominates, Capturing 58% of Inflows into New Crypto Funds
- BlackRock's Bitcoin ETF (IBIT) is attracting more inflows than all other recent Bitcoin ETFs combined
- Nearly $2.5 billion have flowed into the new Bitcoin ETFs this week, with IBIT capturing about 58%
- Since launching on Jan. 11, IBIT has gained over $5 billion in inflows, about $1.5 billion more than Fidelity's offering
- BlackRock's powerful distribution network and brand identity have fueled large inflows into its Bitcoin ETF
- Early results showed BlackRock and Fidelity dominating, but BlackRock has emerged as the clear market leader