KEY POINTS
- IBIT saw $1.081.8 billion inflows after the market closed Wednesday
- Fidelity Investments' Wise Origin Bitcoin Fund (FBTC) secured the second position, attracting $882.4 million in inflows
- Bitwise's Bitcoin ETF (BITB) settled in third place with $373.7 million
BlackRock's IBIT made a rare feat in the history of exchange-traded funds when it reached more than $1 billion in inflows within its first four days of trading.
Data from Bloomberg Intelligence ETF analyst James Seyffart showed IBIT saw $1.081.8 billion inflows after the market closed Wednesday.
In an exceptional achievement within the realm of exchange-traded funds, BlackRock's iShares Bitcoin Trust (IBIT) accumulated over $1 billion in capital inflows within the initial four days of trading as highlighted by data from James Seyffart, an ETF analyst at Bloomberg Intelligence, which shared that IBIT experienced inflows amounting to $1.0818 billion after the close of trading on Wednesday.
BlackRock's spot Bitcoin ETF emerged as a frontrunner, surpassing its nearest competitors in a remarkable display of market dominance.
Within the same four-day trading period, Fidelity Investments' Wise Origin Bitcoin Fund (FBTC) secured the second position, attracting $882.4 million in inflows, followed by Bitwise's Bitcoin ETF (BITB) in third place, with $373.7 million.
Notably, the ARK 21 Shares Bitcoin ETF, a collaborative effort between ARK Invest and 21 Shares, secured the fourth position with an influx of $277.8 million.
In the fifth spot, the Invesco Galaxy Bitcoin ETF (BTCO) reported inflows of $135.2 million.
Here's my Day 4 #Bitcoin ETF Cointucky Derby Update: $GBTC still accounting for more than half of the trading volume but flows into the other ETFs still ahead of GBTC outflows. Assets in aggregate sit at $27.7 billion. Tuesday was only NET outflow day in aggregate (-$48 mln) pic.twitter.com/4Iqytq4Mxy
— James Seyffart (@JSeyff) January 18, 2024
Eric Balchunas, another ETF analyst at Bloomberg Intelligence presented data highlighting the impressive performance of spot Bitcoin ETFs on their fourth day of trading.
He noted the substantial growth in rolling net flows, which escalated to over $1.2 billion primarily driven by what he refers to as the "Newborn Nine," which collectively amassed $914 billion on Wednesday, significantly eclipsing the $450 million outflow from GBTC.
"Day Four was a good one, the ROLLING NET FLOWS grew to +$1.2b after the Newborn Nine pulled in $914b on Wed, by far their best day yet, overwhelming the $450 out of $GBTC," the ETF analyst's tweet read.
The ETF analyst also noted that the newly launched Bitcoin ETFs have shown "abnormally high numbers" with five BTC ETFs seeing over $100 million inflows.
"The 'Nine' have now taken in $3b and traded $5.4b in first four days (abnormally high #s). $IBIT is now over $1b, $FBTC close behind & $BITB firmly in 3rd place now. Five of them are over $100m," Balchunas said in a tweet.
LATEST: Day Four was a good one, the ROLLING NET FLOWS grew to +$1.2b after the Newborn Nine pulled in $914b on Wed, by far their best day yet, overwhelming the $450 out of $GBTC. The 'Nine' have now taken in $3b and traded $5.4b in first four days (abnormally high #s). $IBIT is… pic.twitter.com/mYBLggYlYK
— Eric Balchunas (@EricBalchunas) January 18, 2024
The financial world took significant notice when BlackRock, known for its magnitude and influential position in the industry, filed for a spot Bitcoin ETF in June of the previous year.
In a recent interview, Rachel Aguirre, Head of Product at BlackRock U.S. iShares, addressed inquiries about whether investors from GBTC (Grayscale Bitcoin Trust) were transitioning to IBIT.
Aguirre indicated that the inflows into IBIT were originating from "a number of different directions," and emphasized that the primary contributors to these inflows were predominantly retail investors and individuals who are relatively new to the cryptocurrency arena.
BlackRock Head of US iShares Product Rachel Aguirre says that the influx of flows into IBIT are coming from both retail and new investors https://t.co/ZcijTXN2uz pic.twitter.com/ktiE4yIyXX
— Bloomberg TV (@BloombergTV) January 17, 2024
"The interest we're seeing in our new spot #Bitcoin ETF is both from retail and self-directed investors, but we're also focused on those investors who are just now beginning to look at this new asset class," Aguirre said.
