BlackRock’s spot Bitcoinexchange-traded fund (ETF) has generated significant traction, accounting for 95% of the total inflow into United States spot Bitcoin ETFs on Tuesday.
The combined inflows for these ETFs surpassed $300 million, a substantial boost for the market.
Preliminary data from Farside Investors reveals that BlackRock’s iShares Bitcoin Trust (IBIT) witnessed a substantial inflow of $290 million on May 21.
When considering all eleven ETF issuers combined, the net inflow amounted to $305.7 million.
Notably, this marks a reversal in the trend of zero or minimal inflows observed over the past six weeks.
The recent influx of funds into BlackRock’s ETF represents the highest level since April 5, eclipsing the cumulative inflows witnessed over the past 21 trading days.
In the context of a volatile Bitcoin rally, spot Bitcoin ETFs have experienced over $1 billion in inflows during the past four trading days.
Taking into account the latest daily figures, BlackRock’s IBIT has accumulated a total of $16 billion in inflows since its launch, as reported by Farside Investors.
However, the official website for the product displays assets under management (AUM) of $19 billion.
This positions BlackRock’s IBIT in close proximity to industry leader Grayscale, whose GBTC spot ETF boasts $20 billion in AUM, according to official records.
Conversely, Grayscale’s GBTC recorded zero inflows on May 21, extending the streak of five consecutive trading days without outflows.
Within the past five days, the fund has witnessed inflows of $72.5 billion, marking a reversal from a four-month trend characterized by consistent outflows.
Meanwhile, the significant inflow figure on Tuesday was not without its share of outflows.
The VanEck Bitcoin Trust
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