COINOTAG reported on May 29th that ETF Store President Nate Geraci highlighted a significant trend in the cryptocurrency investment landscape. The Bitwise Bitcoin Spot ETF (IBIT) has experienced robust inflows for 30 out of the last 31 days, amassing nearly $9.5 billion in new capital. Remarkably, this surge positions IBIT among the top five ETFs for inflows this year, out of a staggering 4,200 ETFs. Initial skepticism suggested that a spot Bitcoin ETF might struggle to eclipse $10 billion, yet IBIT has achieved this milestone within a single month.
Bloomberg Senior ETF Analyst Eric Balchunas noted that IBIT currently boasts $7.2 billion in assets under management (AUM), ranking it 23rd in the overall ETF landscape. This achievement is particularly noteworthy considering the ETF has only been operational for one year. In contrast, among the top 25 ETFs by AUM, the second youngest ETF has existed for over 12 years, underscoring the rapid ascent of IBIT in the financial markets.