- BlackRockâs Bitcoin ETF just had 71 days of consecutive inflows.
- Itâs one of the top 10 ETF inflow streaks of all time, according to a Bloomberg Intelligence analyst.
- The fund has amassed $18.24 billion since it launched in January.
BlackRockâs Bitcoin spot exchange-traded fund keeps breaking records.
The ETF has now seen 71 consecutive days of inflows. A laudable streak, according to Bloomberg Intelligence ETF analyst Eric Balchunas.
The fund has passed the Global Jets ETF, as well as Vanguardâs bond market ETF and developed-markets ETF â funds that Balchunas described as âone hit wondersâ and âcash vacuum cleaners.â
The streak puts BlackRockâs Bitcoin ETF among the top 10 funds of all time by yet another measure. But thereâs âa lot of mountain still left to climbâ to get to the number one spot, Balchunas said.
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The longest inflow streak ever recorded by an ETF was 160 days, attained by JPMorganâs Equity Premium Income ETF.
With $18.24 billion in assets, BlackRockâs Bitcoin fund is already among the top 3% of all ETFs ever launched.
The ETFâs success can be attributed to institutions gaining exposure to Bitcoin little by little. Bitcoin is not a massive chunk of these firmsâ strategies. Instead, itâs more like âhot sauceâ on top of wider portfolios, Balchunas said.
âShows that most of the bites are nibbles but there are a lot of fish,â he added.
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But not all of BlackRockâs crypto ventures have been met with such immediate success. BlackRockâs tokenised fund, BUIDL, launched on the Ethereum blockchain on March 20, has attracted only a handful of investors so far.
Even though BUIDL surged 200% in a matter of weeks, onchain data shows most of the fundâs assets have been split up among 11 wallets.
Tom Carreras is a markets correspondent at DL News. Got a tip about BlackRock, Bitcoin, or ETFs? Reach out at tcarreras@dlnews.com