BlackRock's spot bitcoin ETF joins exclusive club after 70 straight days of growth
Quick Take
- BlackRock’s spot bitcoin ETF registered net inflows for the 70th straight day, putting the instrument in the top 10 of exchange-traded funds with the longest daily streaks of daily inflows.
- The fund also appeared to add over $600 million to its AUM on Monday, according to BlackRock’s fund page.
BlackRock's spot bitcoin ETF continued its hot streak on Monday, adding inflows for the 70th straight day. That put the financial giant's ETF in the top 10 of exchange-traded funds with the longest daily streaks of inflows.
Earlier on Monday, Bloomberg senior ETF analyst Eric Balchunas posted a graphic to X demonstrating that if BlackRock's fund, ticker IBIT, succeeded in registering a 70th consecutive day of net inflows it would rank the exchange-traded fund among some of the most successful in history.
"IBIT inflow streak currently at 69 days. One more day and it moves into top 10 and ties JETS," Balchunas posted. The JETS exchange-traded fund, which combines shares in companies operating in the airline industry, has also achieved 70 straight days of inflows, according to data posted by Balchunas. Before Monday, JETS sat alone at number 10.
BlackRock's spot bitcoin ETF had a net inflow of $20 million on Monday, according to HODL15Capital. SosoValue data showed a $19.65 million net inflow for the ETF on the same day.
Longest daily inflow streaks for ETFs. Image: Bloomberg.
With 160 straight days, the JPMorgan Equity Premium Income ETF, or JEPI, tops the list with the longest streak of daily inflows, also according to the Bloomberg analyst's post.
BlackRock adds over $600 million in AUM
BlackRock's spot bitcoin ETF appeared to add over $600 million in assets under management on Monday, bringing its total AUM to 18.16 billion, according to the financial institution. As of last Friday's close, the ETF had $17.55 billion in net assets, also according to BlackRock.
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Grayscale's spot bitcoin ETF, ticker GBTC, has maintained its lead as the largest among the crypto-based funds since they all began trading in January, although recent trends, including consistent outflows, appear to show it may be vulnerable to losing that distinction to BlackRock's rival product.
Grayscale's fund, a conversion of its flagship fund which began with nearly $30 billion in AUM when it launched earlier this year, charges a higher fee than BlackRock's ETF.
UPDATE: Clarified that BlackRock's spot bitcoin ETF added over $600 million to its assets under management on Monday. Earlier version referred to inflows.
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