BlackRock’s IBIT bitcoin nears $20 billion as it sees new ATH
BlackRock's Spot Bitcoin ETF (IBIT) has close to $20 billion in assets, currently in the top 3% of all ETFs.
IBIT and FBTC have recorded 59 days of inflows – placing the two among the top 20 ETFs. Meanwhile, Bitcoin price could hit new all-time high amid spot ETF and half sentiment.
The BlackRock Spot Bitcoin ETF (IBIT) continues to outperform its peers as inflows increase.
The data shows that IBIT has not only ranked in the top 20 for the longest consecutive income stream, but also for total assets.
Bloomberg ETF analyst Eric Balchunas shared these details on Monday. He pointed out that BlackRock's spot Bitcoin ETF made up the top 3 percent of total assets held among all ETFs.
According to the analyst, IBIT is close to hitting the $20 billion mark in assets, a feat that could coincide with an all-time high for Bitcoin.
BlackRock IBIT leads peers.
BlackRock, the world's leading asset manager, recently updated its list of authorized participants (APS) to include banking and investment giants Goldman Sachs, Citigroup, Citadel and UBS.
At the time of posting on X, IBIT's assets under management totaled $18.96 billion and earned a rank of 88.Th all in all.
This means that the new position Bitcoin ETF currently sits above the oldest ETFs in the market. IBIT outperformed iShares MSCI Emerging Markets ETF ( EEM ), VanEck Semiconductor ETF ( SMH ), iShares MSCI Japan ETF ( EWJ ) and iShares TIPS Bond ETF ( TIP ).
$IBIT is approaching $20b in assets, ranking 88th among all ETFs, placing it in the top 3%. Just passed several veterans including $EEM, $EWJ, $SMH and $TIP pic.twitter.com/IgmuHpFlKb
— Eric Balchunas (@EricBalchunas) April 8, 2024
Earlier, Balchunas said BlackRock's IBIT and Fidelity's FBTC ETFs “have now taken money for 59 consecutive days.”
This means that the two ETFs are trending in the top 20 all-time charts, putting these ETFs in a league of their own when compared to other newly launched ETFs or active online.
MOVIN ON UP: $IBIT and $FBTC have now taken cash for 59 straight days and are now in the top 20 of all time. (They're in a league of their own when it comes to active tails or tails for newborns) via @thetrinianalyst pic.twitter.com/3cdYorXjOT
— Eric Balchunas (@EricBalchunas) April 8, 2024
Bitcoin price is at a new all-time high.
This year, the continued momentum of spot Bitcoin ETFs approved by the US Securities and Exchange Commission (SEC) in January has helped boost the price of Bitcoin.
On Monday, BTC rose above $72,600. While it is trading around $71,900 at the time of writing, the bullish sentiment could see the benchmark crypto hit a new all-time high above its mid-March peak.
According to data from CoinGecko, Bitcoin's current all-time high of $73,737 was reached on March 14, 2024. Analysts are predicting a post-halving explosion for the price of Bitcoin.
