BlackRock’s Bitcoin ETF Records Biggest Inflows of All Time

3 weeks ago 29987

ARTICLE AD BOX

Alex Dovbnya

BlackRock's IBIT has logged record-breaking $896 million in a single day

BlackRock’s Bitcoin ETF Records Biggest Inflows of All Time

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BlackRock's iShares Bitcoin Trust ETF attracted $875 million in fresh money on Wednesday.

These are the biggest inflows recorded by the product to date, according to data provided by SoSoValue.

IBIT has now surpassed a whopping $30.8 billion in net assets following its recent winning streak. It reached this milestone was reached in just 293 days, setting a new all-time record. The previous record was held by JPMorgan Equity Premium Income ETF (JEPI), which surpassed $30 billion in 1,272 days.

Notably, IBIT managed to take in more money in a single day than all but seven of the 590 ETFs launched this year have taken in throughout the entire 2024.

Other ETF products attracted relatively small inflows compared to IBIT. Fidelity Wise Origin Bitcoin Fund (FBTC) logged a relatively modest $12.57 million worth of inflows on Wednesday. FBTC has now surpassed $13.5 billion in net assets.

Meanwhile, Ethereum ETFs continue to suffer from lackluster demand. Yesterday, BlackRock's iShares Ethereum Trust ETF (ETHA) recorded zero inflows. Fidelity Ethereum Fund (FETH) recorded $5.6 million in fresh money, barely pushing these products into positive territory.

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected].