World’s largest custodian bank BNY Mellon holds spot Bitcoin ETFs

April 26, 2024 05:58 AM PDT | By Invezz

BlackRock’s $IBIT spot Bitcoin ETF rules market

BlackRock’s iShares Bitcoin Trust ($IBIT) saw its daily inflow streak end at 71 days this week. However, while $IBIT finally hit zero flows on the day, the flagship spot Bitcoin ETF continues to smash market records for fun.

In one instance, senior Bloomberg ETF analyst Eric Balchunas highlighted $IBIT’s record haul of assets after 71 days.

While $IBIT's daily inflow streak is over at 71 days, it is not done setting records. Here's a look at ETFs all time by assets after first 72 days on market. The league of own-ness of IBIT, FBTC et al shows how overheated it all was, a breather was overdue tbh @thetrinianalyst pic.twitter.com/CwarhzTOIC — Eric Balchunas (@EricBalchunas) April 25, 2024

With over 274,000 Bitcoin (BTC) worth more than $17.6 billion in assets under management, $IBIT is closing in on GBTC’s $19.4 billion in net assets.

The newly launched ETF is also in a league of its own in terms of net assets after the first 72 days, according to data the analyst shared. Fidelity’s $FBTC is second behind $IBIT after the first 72 days.

Remarkably, $IBIT ranks 2^nd in terms of year-to-date flows out of 10,698 funds registered in the United States, including ETFs, mutual funds, and CEFs.

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