- The spot ETFs have added $2.4 billion in assets during the past month, according to data from Bloomberg Intelligence, following a period of flat to negative flows.
- Over the previous month, $2.4 billion worth of bitcoin was added to the U.S.-traded spot ETFs.
- After an initial moment of elation, this streak is followed by a flat to negative spell.
- The assets under management of BlackRock’s iShares Bitcoin Fund (IBIT) have surpassed $20 billion.
Yesterday, the U.S.-based spot bitcoin ETFs had net inflows for 15 straight sessions. BlackRock’s iShares Bitcoin Fund (IBIT) reached over $20 billion in assets under management for the first time, thanks to a recent wave of capital inflows and a rise in the price of bitcoin.
Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, estimates that during the course of the previous month, the ETFs received around $2.4 billion in new investments. In terms of net inflows, that would rank third in the whole ETF market.
Hot sauce type tactics rarely have the ability to recover with fresh vigor following a few painful selloffs, according to Balchunas’ essay on X. [It] demonstrates resilience.
After the initial excitement surrounding the debut of the spot ETFs, inflows declined dramatically in April and even went negative for a few days. At the time, experts explained that this was a fairly typical occurrence.
However, since May 16, net inflows have averaged $140 million daily, as reported by Farside Investors. Of the ten funds, IBIT has brought in the most money, bringing in $1.1 billion during that time. As of yesterday, IBIT was holding 291,563 bitcoins, which were worth $20.15 billion.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
