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BlackRock’s (NYSE:BLK) iShares Bitcoin Trust (NASDAQ:IBIT) has exceeded $10B in assets under management just seven weeks after the fund started trading.
The milestone comes after the spot bitcoin (BTC-USD) ETF recorded its second-largest day of inflows on Thursday, garnering $603.9M and holding over 161K bitcoins, since debuting on Jan. 11, BitMEX Research wrote in an X post.
Fidelity’s Fidelity Wise Origin Bitcoin Fund ETF (BATS:FBTC) took the second slot with $6.3B in assets. Coming in third, Ark Invest’s 21 Shares Bitcoin ETF (BATS:ARKB) has some $2.1B in AUM.
Offsetting the inflows, meantime, Grayscale Bitcoin Trust (NYSEARCA:GBTC) suffered $598.9M in outflows. Europe’s largest bitcoin (BTC-USD) funds also saw increased outflows in recent days.
“This is likely to be primarily caused by switching to the U.S. ETFs, but also perhaps some profit taking,” BitMEX Research wrote.
All together, net inflows for the U.S. spot bitcoin (BTC-USD) ETFs dropped to $92.4M on Thursday from the record $673.4M a day before.
In Friday midafternoon trading, the price of bitcoin (BTC-USD) edged up 0.8% to $62.1K. In the wake of increased buying pressure through spot bitcoin ETF demand, the token is on pace for an ~8% climb for the week ending March 1.
More on ARK 21Shares Bitcoin ETF Beneficial Interest, BlackRock, etc.
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