IBIT Accounts for Over a Quarter of BlackRock's ETF Inflows in 2023
CryptoNewsTerminal Staff04 Jun, 2024
IBIT Accounts for Over a Quarter of BlackRock's ETF Inflows in 2023
BlackRock's iShares Bitcoin Trust (IBIT) has captured a significant portion of the asset manager's ETF inflows this year, highlighting the growing demand for Bitcoin-linked investments. According to Bloomberg ETF analyst Eric Balchunas, IBIT has accounted for 26% of BlackRock's ETF inflows so far in 2023. This is a notable share, considering that BlackRock has over 429 ETFs with approximately $2.8 trillion in assets under management. The strong inflows into IBIT suggest that investors are increasingly looking for exposure to Bitcoin through regulated and reputable channels. BlackRock's prominence in the ETF industry and its reputation for offering high-quality products have likely contributed to IBIT's success. The trend towards Bitcoin-linked ETFs is not limited to BlackRock. Fidelity Investments has also seen significant inflows into its Bitcoin ETF, FBTC, which has captured 56% of the company's ETF inflows this year.
