BlackRock’s Bitcoin ETF is now the 2nd best ETF in monthly flows
Main Idea
Institutional demand for Bitcoin is growing, with BlackRock’s Bitcoin ETF (IBIT) seeing significant inflows and regulatory changes potentially widening its lead over competitors.
Key Points
1. BlackRock’s Bitcoin ETF (IBIT) has seen approximately $5.175 billion in monthly inflows, totaling $84.08 billion, making it the second-best ETF in terms of monthly inflows.
2. The SEC increased the maximum number of options contracts allowed on Bitcoin ETFs from 25,000 to 250,000, benefiting IBIT but excluding some competitors like Fidelity’s Wise Origin Bitcoin Fund (FBTC).
3. Greg Cipolaro of NYDIG believes the SEC’s changes will widen IBIT’s lead over competitors and hinder FBTC’s position as the second-largest Bitcoin ETF.
4. The SEC also approved in-kind creation and redemption for crypto ETFs, which could further solidify IBIT’s dominance in the crypto asset space.
Description
While Bitcoin ( BTC ) has had a volatile few days, institutional demand for the largest cryptocurrency continues to grow. BlackRock’s Bitcoin ETF ( IBIT ) in particular has once again made significant strides, continuing its long inflow streak and demonstrating its dominance in the sector. As reported by Senior ETF Analyst Eric Balchunas, the fund has seen approximately $5.175 billion in monthly inflows and now boasts $84.08 billion in assets under management. This makes IBIT the second-best exc...
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