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Bitcoin ETF Joins Top 5 US ETPs By Capital Inflows
(CTN News) – A Bitcoin exchange-traded product (ETP) from the financial giant BlackRock has become one of the top five exchange-traded products in the United States when it comes to capital inflows, according to a recent report.
According to data from YCharts, the cryptocurrency fund IBIT, which trades under the ticker IBIT, was ranked in the top 0.16% of 3,109 US exchange traded funds (ETPs). It is noted by industry experts that the BlackRock ETF had to miss the first seven trading days of 2024 due to technical reasons.
According to the company, it was waiting for approval from the Securities and Exchange Commission (SEC) before it could proceed.
According to senior analyst Bitcoin Eric Balchunas, IBIT has attracted over $3.19 billion in investments since it launched. According to his calculations, BlackRock’s cryptocurrency ETF entered 0.02% of the largest ETPs in the world based on this indicator. Approximately 10,000 exchange products are currently available.
Fidelity Investments’ crypto fund is another successful spot for Bitcoin ETFs. $2.51 billion has been invested in this investment product since its launch.
BlackRock and Fidelity’s crypto funds continue to lead other companies’ spot Bitcoin ETFs, according to analysts. As indicated by SoSo Value, Ark Invest and 21Shares are third in terms of the volume of funds received, with an indicator of $697 million.
There is only one exception to this rule, which is Grayscale Investments’ cryptocurrency ETF. Despite the fact that this product has lost more than $6.1 billion, it remains the most significant asset holder of all crypto funds. The Grayscale spot Bitcoin ETF manages a total of $20 billion in assets.
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