BlackRock’s Bitcoin ETF accounted for about one fifth of the net ETF inflows BlackRock received during the first three months.
In the first quarter of the year, net flows into the 400+ fund ETFs managed by the largest asset manager in the world totaled $67 billion. The company announced this during a call with investors on Friday.
Its iShares Bitcoin Trust (IBIT) — launched on Jan. 11 alongside nine similar spot bitcoin funds — notched roughly $13.9 billion, or 21%, of those flows, ETF.com data shows.
Alongside of the “surging demand” According to BlackRock’s Chief Financial Officer Martin Small, the Bitcoin fund saw net inflows totaling $37 billion for core equity ETFs and $18 billion for fixed income.
IBIT manages assets worth nearly $19 billion. “the fastest-growing ETF in history,” BlackRock’s Larry Fink, CEO during earnings call.
The offering, along with a competing bitcoin fund by Fidelity, has tallied net inflows on every trading day since it launched three months ago — an unprecedented streak for new ETFs.
BlackRock’s bitcoin fund helped BlackRock reach a new record of assets managed in the first quarter, with $10.5 trillion.
“This is just the latest example of BlackRock innovating to provide better access and transparency to a wider range of investment exposures,” Small is said about IBIT.
BlackRock also introduced its first tokenized fund — the BlackRock USD Institutional Digital Liquidity Fund — last quarter. Securitize Markets is a firm that tokenizes real-world assets and offers US dollar yields to qualified investors.
Fink called tokenized assets before “the next generation for markets” — noting they offer a chance for BlackRock and others to drive efficiencies in capital markets, shorten value chains and lower costs for investors.
“This builds on our existing digital assets strategy,” Fink spoke about the launch of tokenized funds. “We’ll continue to innovate new products and wrappers, all with the aim of providing greater access and customization to each and every one of our clients.”
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