Source: cryptoslate
Compiled by: Blockchain Knight
BlackRock’s Spot BTC ETF (IBIT) recorded $418.8 million in net flows on December 16, becoming the most successful ETF launched in more than a decade.
Nate Geraci, CEO of The ETF Store, highlighted that IBIT has beaten about 2,850 ETFs.
Geraci added: “In other words, IBIT has more lifetime inflows than any ETF launched since 2014. And it did this in just over 11 months.”
According to Farside Investors, IBIT has amassed $36.3 billion in positive net inflows since its launch, surpassing the $36.2 billion in inflows received by spot BTC ETFs traded in the United States.
This amount is nearly 3 times higher than the $12.4 billion in inflows into the second largest spot BTC ETF (FBTC) managed by Fidelity.
In addition, IBIT is the fund with the largest single-day inflow of funds among BTC ETFs, with a single-day inflow of more than US$1.1 billion.
This is more than 2 times higher than the single-day inflow record of $473.4 million recorded by FBTC, the second largest single-day inflow into the spot BTC ETF.
Notably, despite Grayscale’s GBTC seeing $21 billion in outflows since the conversion, the spot BTC ETF has still received over $36 billion in inflows year to date.
Crypto-related ETFs have been one of the main talking points in the market this year. They provide institutional investors in the U.S. with a regulated way to gain exposure to BTC and Ethereum.
Analysts believe that Crypto ETFs are one of the main drivers of BTC’s massive growth this year.
In a recent report, Bitfinex analysts pointed out that the adoption of ETFs is one of the main catalysts that can change BTC’s past cycle patterns.
Additionally, Bloomberg senior ETF analyst Eric Balchunas highlighted the growth rate of BTC ETFs.
Assets under management for these products traded in the U.S., which include futures and leveraged ETFs, totaled $130 billion, surpassing the $128 billion for gold ETFs.
Even looking at just the nearly $117 billion in AUM for spot BTC ETFs, Balchunas said it’s “unreal” that BTC ETFs are so close to gold ETFs just 11 months after launch.
Bitwise also believes that the ETF is one of the two major catalysts for Ethereum’s significant growth next year.
