BlackRock’s spot Bitcoin ETF has seen net flows on each trading day since it was launched on Jan. 11, 2011. Farside Investors says that this 71 day streak has come to an end.
The iShares Bitcoin Trust (IBIT) saw zero net flows on Wednesday — shattering an unprecedented record for a newly launched ETF.
Bloomberg Intelligence Analyst Eric Balchunas says that IBIT’s streak was historically long for a newly launched fund. However, other funds had more impressive runs, after months or years of establishing themselves on the stock market.
Balchunas, in an X-post, said that IBIT had extended its streak of inflow to 71 consecutive days, making it the 10th longest streak in history.
Farside Investors, a London-based asset management firm, reported that IBIT’s net inflows had stopped on Wednesday.
The only ETFs to see a slight increase in the amount of money they received were the Ark 21Shares Bitcoin ETF and Fidelity’s Wise Bitcoin Fund.
After two weeks in a row of net outflows, IBIT has ended its streak.
Still, the net flows into this 11-fund group are $12.3billion in three plus months. IBIT, alone, has gathered approximately $15.5 Billion in positive net flow to mostly offset GBTC’s almost $17 Billion of bleeding.
BlackRock ETF net outflows for the first quarter were approximately 20%.
BlackRock website states that IBIT assets managed amounted to approximately $17.6 Billion. GBTC has almost $19.4 billion, and is the second largest bitcoin ETF.
Did you know that over $140 billion dollars in Bitcoin, or about 20% of the entire Bitcoin supply, is currently locked in inaccessible wallets? Or maybe you have lost access to your Bitcoin wallet? Don’t let those funds remain out of reach! AI Seed Phrase Finder is here to help you regain access effortlessly. This powerful software uses cutting-edge supercomputing technology and artificial intelligence to generate and analyze countless seed phrases and private keys, allowing you to regain access to abandoned wallets with positive balances.
