BlackRock’s Bitcoin Spot ETF IBIT Achieves Record $1.1 Billion Weekly Inflows, Ranking Among Top ETFs

In a recent development reported by COINOTAG, Eric Balchunas, a premier ETF analyst at Bloomberg, highlighted significant milestones achieved by BlackRock’s Bitcoin spot ETF, IBIT. According to Balchunas, the ETF garnered an impressive influx of capital, totaling $1.1 billion over the past week, marking its best weekly performance since March. This surge in funds propelled IBIT into the prestigious position of third place on the annual fund inflow leaderboard, a remarkable feat for a financial product recently introduced to the market. Notably, the top five ETFs recognized in this category have been established for over two decades, with cumulative assets exceeding $300 billion. Currently, IBIT boasts assets under management amounting to $26 billion, solidifying its status within the exclusive top 2% of all ETFs in existence, showcasing a strong showing for emerging products in a highly competitive landscape.