BlackRock’s spot Bitcoin exchange-traded fund (ETF) has set a new record, gaining $418.8 million in net inflows on Dec. 16. This makes the IBIT fund the largest ETF launch in 11 years. BlackRock’s product has now received $36.3 billion since its launch, surpassing the $36.2 billion received by other U.S-traded spot Bitcoin ETFs.
The most significant daily inflow IBIT received was over $1.1 billion on a single day, with Fidelity’s FBTC coming second at $473.4 million. However, Grayscale GBTC’s $21 billion in outflows since its conversion counteracted the spot ETFs’ growth slightly. Crypto-ETFs have been central to Bitcoin’s excellent performance this year, possibly changing the asset’s patterns from previous cycles and reaching a total of over $130 billion in assets under management after only 11 months.
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