BlackRock Bitcoin ETF Hits $50 Billion Inflows, IBIT Share Jumps 4%

BlackRock Bitcoin ETF (IBIT) is once again accumulating Bitcoins in big numbers, clocking $266 million inflows on Monday, and hitting the $50 billion inflows milestone since inception. This makes IBIT one of the fastest ETFs to hit this milestone, with a 54% dominance in the BTC ETF market. This development comes at a time when Donald Trump’s Truth Social is racing to enter the ETF market.

BlackRock Bitcoin ETF Dominates with 54% Market Share

As Trump Media’s Truth Social platform seeks to enter the Bitcoin ETF space, BlackRock’s iShares Bitcoin Trust (IBIT) has been absolutely dominating the space by hitting $50 billion in inflows for the first time since inception. As per the data from Trader T, BlackRock’s IBIT, scooped a total of 2,464 Bitcoins, worth $264 million. Also, it clocked a daily trading volume of $2.3 billion during yesterday’s trading sessions.

As of now, the total assets under management for BlackRock’s iShares Bitcoin Trust currently stand at $72 billion, grabbing a massive 54% market share from the total Bitcoin ETF AUM size of $131 billion.

Apart from BlackRock Bitcoin ETF, Fidelity FBTC, and Ark Invest’s ARK saw $83 million and $41 million inflows, respectively, taking the total inflows to over $408 million across all issuers, as per Farside Investors data. The data also shows that BlackRock completely decimates the competition with its immediate competitor, Fidelity’s FBTC, having just $11.6 billion in inflows since inception.

IBIT Share Price Jumps 3.5%

Spot Bitcoin ETFs have initiated a new inflow streak, quietly gaining momentum. Over the past six trading days, these funds have attracted $1.8 billion in fresh investments, bringing the total inflows for the year to approximately $11 billion.

As a result, the IBIT share price also gained momentum with 3.5% gains on Monday, moving past the crucial resistance of $60. In recent weeks, IBIT has been seeing strong trading activity. From the April lows of $44, the stock is already up by more than 40%, crossing $60.

However, if inflows into BlackRock Bitcoin ETF continue, the IBIT share price can gather momentum further. Currently, Bitcoin price is trading 1% up at $107,368 levels. Any move to its all-time highs could lead to greater institutional inflows in the ETFs.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

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