What Made BlackRock’s Bitcoin ETF Streak Crash After an Unprecedented Run
Web3 Wavefronts - Digestible News on Crypto, DeFi and AI · theWeb3.news
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Show Notes
Since its launch on January 11th, BlackRock's Bitcoin-oriented exchange-traded fund (ETF), iShares Bitcoin Trust (IBIT), saw inflows continually up to 71 trading days, marking the 10th-longest record. This stream, however, has recently paused according to Farside Investors. Notably, over the same timeline, the Fidelity Wise Origin Bitcoin Fund (FBTC) and Ark 21Shares Bitcoin ETF (ARKB) observed minor inflows, whereas Grayscale Bitcoin Trust ETF (GBTC) experienced net outflows of $130 million. IBIT accounts for approximately 20% of the total net inflows BlackRock's ETFs amassed in the first quarter, with its asset value approximated at $17.6 billion.
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