The influx of capital into Bitcoin spot ETFs continues: ‘IBIT is the fastest-growing ETF in history,’ stated Larry Fink.
The iShares Bitcoin Trust (IBIT) by BlackRock continues to record unprecedented capital inflows. On March 27th, the fund saw capital inflow amounting to $323 million.
In a recent interview with Fox Business, Larry Fink, CEO of BlackRock, expressed satisfaction with IBIT, describing it as the fastest-growing ETFs in history. Fink also emphasized the increasing demand from retail investors.
Since its launch, IBIT has collected a total of over $13.5 billion in the first 11 weeks. On average, IBIT records approximately $260 million in inflows every day. It took the fund only two months to surpass the $10 billion threshold, a milestone that took two years for the first gold ETF to achieve. Currently, IBIT holds a total of 243,627 bitcoins.
Among the 5,535 ETFs launched in the United States over the last 30 years, only IBIT by BlackRock and FBTC by Fidelity have managed to exceed $3 billion in capital inflows in the first month.
Investments just started
According to Matt Hougan, CIO of Bitwise, institutional investments in Bitcoin have just begun. Hougan argues that the demand for spot ETFs will continue for many years.
The CIO of Bitwise emphasizes how some brokers have not yet granted access to ETFs on their investment platforms:
“The truth is, most professional investors still cannot buy bitcoin ETFs.”
Following the approval of ETFs, Hougan believes that investors are considering the possibility of increasing their allocation in Bitcoin:
“Before, people were worried bitcoin could go to zero. In that world, a 1% allocation is all you can stomach. But if “going to zero” is off the table, 3% or 5% starts to make more sense.”