BlackRock’s iShares Bitcoin Trust ETF attracted $875 million in fresh money on Wednesday.
These are the biggest inflows recorded by the product to date, according to data provided by SoSoValue.
IBIT has now surpassed a whopping $30.8 billion in net assets following its recent winning streak. It reached this milestone was reached in just 293 days, setting a new all-time record. The previous record was held by JPMorgan Equity Premium Income ETF (JEPI), which surpassed $30 billion in 1,272 days.
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Notably, IBIT managed to take in more money in a single day than all but seven of the 590 ETFs launched this year have taken in throughout the entire 2024.
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Other ETF products attracted relatively small inflows compared to IBIT. Fidelity Wise Origin Bitcoin Fund (FBTC) logged a relatively modest $12.57 million worth of inflows on Wednesday. FBTC has now surpassed $13.5 billion in net assets.
Despite the impressive inflows, Bitcoin bulls have so far failed to regain their momentum, with BTC trading below the $73,000 mark.
It is worth noting that spot Bitcoin ETFs managed to surpass the much-coveted 1 million BTC mark in less than 10 months.
Bitwise CIO Matt Hougan recently stated that he expects Bitcoin ETFs to see consistent inflows for years to come just like gold ETFs.
Meanwhile, Ethereum ETFs continue to suffer from lackluster demand. Yesterday, BlackRock’s iShares Ethereum Trust ETF (ETHA) recorded zero inflows. Fidelity Ethereum Fund (FETH) recorded $5.6 million in fresh money, barely pushing these products into positive territory.
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