BlackRock’s Bitcoin ETF saw its biggest inflow in over a month

On Monday, BlackRock’s Bitcoin exchange-traded fund (ETF) saw its biggest single-day inflow in more than 35 days. The iShares Bitcoin Trust (IBIT) collected net inflows of $224 million.

NEW: 🇺🇸 While others are selling, those at BlackRock #Bitcoin The ETF saw inflows of $224 yesterday.

The biggest in over a month 🚀 pic.twitter.com/sCiSGhKzCp

— Bitcoin Magazine (@BitcoinMagazine) August 27, 2024

The sizable capital injection came as Bitcoin pulled back slightly from its recent rally. It highlights continued strong demand for IBIT amid mixed flows for other spot Bitcoin ETFs. IBIT accounted for the bulk of the month’s total inflows of $202 million into US spot Bitcoin ETFs, which was IBIT’s largest flow since July 22.

Other Bitcoin spot ETFs have seen mixed results. Franklin Templeton and WisdomTree’s Bitcoin ETFs added about $5 million each. However, Fidelity’s Bitcoin ETF saw outflows of $8 million, while Bitwise and VanEck saw outflows of more than $15 million.

The varied performance reflects the diverse perspectives and strategies of investors in the emerging Bitcoin ETF space. However, inflows into IBIT and other select funds extended the overall inflow streak to eight consecutive days.

With over $20 billion in net inflows, IBIT has solidified itself as the dominant spot Bitcoin ETF. BlackRock now holds over 350,000 bitcoins worth nearly $22 billion in the fund.

The asset manager recently added IBIT shares to the Strategic Global Bond Fund, highlighting its confidence. As mass adoption increases, BlackRock’s Bitcoin ETF is positioned to see steady inflows.