BlackRock Bitcoin ETF posts $143 million in revenue on renewed demand
Key receivers
BlackRock's Bitcoin ETF saw $143 million in inflows, reflecting renewed interest from institutional investors. BlackRock is using its position as the world's largest asset manager to increase clients' access to bitcoin.
Share this article
BlackRock's bitcoin ETF, iShares Bitcoin Trust (IBIT), raised more than $143 million in new capital on Tuesday, breaking the $449 million outflow since Dec. 23 and showing renewed institutional interest in the leading digital asset.
BlackRock, the world's largest asset manager, has facilitated the growth of clients' access to Bitcoin through its investment products. The fixed-point Bitcoin ETF has emerged as a key vehicle for institutional allocation of crypto assets.
Along with IBIT, funds managed by ARK Invest/21Share and Fidelity posted strong earnings, attracting $110 million and $79 million respectively. Bitwise, VanEck and Grayscale products also finished the day in positive territory.
The U.S.-listed spot bitcoin ETF closed on Tuesday with $355 million in net capital, ending a seven-day streak of outflows.
The renewed revenue streams come amid a rebound in the price of Bitcoin. Bitcoin hit $89,000 on Tuesday before retreating to $88,729, according to CoinGecko data.
