BlackRock's iShares Bitcoin Trust (IBIT) continues to attract significant assets daily, outpacing competitors even as demand for similar funds slows. Since the launch of US spot bitcoin ETFs on January 11, IBIT has notably gathered over $15.3 billion in net inflows, surpassing the approximately $8 billion gathered by Fidelity Wise Origin Bitcoin Fund (FBTC).
Although Grayscale Investments' Bitcoin Trust ETF (GBTC) maintains a slight edge in assets under management (AUM) over IBIT, with around $19.4 billion compared to $17.1 billion, GBTC started with approximately $28 billion in assets upon converting to an ETF in January and has since experienced nearly $16.5 billion in net outflows.
BIT Mining Chief Economist Predicts IBIT's Ascendancy: Poised to Surpass GBTC in Institutional Crypto Investment
Youwei Yang, chief economist at BIT Mining, attributes BlackRock's success to its strong brand, competitive fee structure, and extensive distribution network, which appeal to institutional investors. With growing institutional interest in crypto, IBIT is poised to surpass GBTC in AUM and potentially maintain long-term leadership in digital asset management.
IBIT's Exceptional Performance: Net Inflows Highlight Distinctive Standing in US Bitcoin ETF Market
According to ETF.com analyst Sumit Roy, IBIT's consistent net inflows, especially in recent times, underscore its unique status compared to competitors. While nine US spot bitcoin ETFs saw zero inflows on both April 12 and April 15, IBIT recorded net inflows of $111 million and $73 million on those days, respectively.
IBIT's remarkable streak of consecutive days with net inflows, now at 66 days, surpasses typical ETF performance and reflects its strong investor appeal. BlackRock's dominance in due diligence assessment, competitive fees, large asset base, liquidity, and availability positions IBIT as a long-term leader in the bitcoin ETF space, according to James Butterfill, research head at CoinShares.
Issued by the world's largest asset manager, IBIT holds significant credibility with investors and has demonstrated success across various markets, Butterfill added.
Cheng Yuan
