BlackRock's Bitcoin ETF Dominates Inflows, Signaling Institutional Interest

IconCrypto News Terminal24 Apr, 2024

cryptonews.jpg

BlackRock's Bitcoin ETF Dominates Inflows, Signaling Institutional Interest

BlackRock's physical bitcoin ETF, IBIT, has captured a significant portion of total flows into the company's family of ETFs, indicating growing institutional interest in cryptocurrencies. According to Bloomberg ETF analyst Eric Balchunas, IBIT currently attracts 24% of all inflows into BlackRock's global ETF offerings. Balchunas attributes this success to widespread enthusiasm for IBIT among investors, which has reportedly caught the attention of BlackRock CEO Larry Fink. Previously on 24 April 2024, Bloomberg ETF analyst Eric Balchunas reported that IBIT was attracting 24% of all flows into BlackRock's ETFs globally.