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Ever since BlackRock filed for its Bitcoin ETF spot last year, Bloomberg ETF analysts Eric Balchunas and James Seyffart have been providing valuable insights and data on all things Bitcoin ETF. If you haven’t followed any of them on X, I highly recommend you do.
Today, Balchunas shared mind-blowing new statistics about the BlackRock Bitcoin ETF IBIT position exclusively. Over the past four years, there have been more than 1,800 ETFs established in the United States. In all of these, IBIT grossed more than $26 billion.
BlackRock had another big inflow of $323 million yesterday, outperforming all of its competitors. I’m not sure if it’s just their brand name that can compete with other ETFs, or if they’re marketing IBIT to their clients behind the scenes that makes their ETF a standout success. Maybe a little of both and then some.
These numbers also highlight the area where Bitcoin ETFs have been a smashing success in America. Since launch, these ETFs have seen collective inflows in 9 of the last 10 months, and I have a feeling this inflow won’t stop anytime soon, especially as we continue to enter the bull market.
While I would like to see investors holding their own keys, I understand that may not be suitable for large companies and small retail investors who do not want the responsibilities that come with maintaining them.
Whether you like it or not, the institutions are here and they are driving up the price of Bitcoin (for now). I am very interested to see how these ETFs will hold up in a bear market, and if they will HODL or if we will see record outflows. Only time will tell.
This article is a Take it. The views expressed are entirely those of the author and do not reflect those of BTC Inc or Bitcoin Magazine.