BlackRock’s Bitcoin ETFIBIT is one of the 10 most popular ETFs in history, at least for its ability to maintain a streak of daily investments.
IBIT had 70 days of positive inflows as of Tuesday, 24 April. This means that IBIT saw a rise in total assets, which in this case is spot Bitcoin. IBIT is yet to experience a single day where its assets have decreased.
The US Spot ETF was approved earlier in the year and has been incredibly successful.
US Bitcoin ETFs launched in the US have surpassed an impressive total volume of $200 billion, showing that investors are very interested in Bitcoin.
Larry Fink’s, BlackRock CEO, recently changed dramatically his attitude towards Bitcoin. Now, the company holds over 270,000 bitcoins valued at more than $18 billion. The move solidifies BlackRock’s position as an important player in Bitcoin ETFs. The shift in attitudes from one of world’s biggest asset managers is testament to mainstream acceptance of Bitcoin as an investment asset.
Eric Balchunas is an ETF senior analyst at Bloomberg. tweet yesterday, “$IBIT inflow streak currently at 69 DAYS. one more day and it moves into Top 10 and ties $JETS.”
The success of this achievement shows the demand for IBIT, and how it can attract investment.
IBIT’s success and that of other US Spot Bitcoin exchange-traded funds sends an encouraging signal to traditional and non-traditional investors. It shows the demand for Bitcoin products.
Bitcoin will continue to play a major role in global markets as institutional players such as BlackRock become more involved. financial landscape.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: bitcoinmagazine.com