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Asset management giant BlackRock’s iShare’s Bitcoin Trust (IBIT) recorded inflows of $192 million on April 11, according to data from Farside Investors.
The spot Bitcoin ETF, currently holding 266,587 Bitcoin, significantly outperformed its competitors, with Bitwise’s Bitcoin ETF coming in second with only $11.1 million in inflows. Meanwhile, Grayscale’s Bitcoin fund saw outflows of approximately $125 million.
A day before, on April 11, IBIT reached a volume of $300 million within the first 30 minutes of trading, ranking it among the top 10 ETFs in terms of volume. As of April 12, the ETF boasted a market cap of $18.77 billion and a volume of $1.11 billion.
IBIT has been consistently breaking records and is one of the two ETFs that saw continuous inflows since their launch. According to a post from Bloomberg analyst Eric Balchunas on April 8, IBIT saw steady inflows for 59 days, securing it a place in the top 20 all-time longest daily inflows list.
In a more recent post on X, Balchunas added that IBIT raked in $15 billion in cash within three months. The analyst stressed that this was “double” of any of BlackRock’s 421 available ETF products.
Meanwhile, BlackRock has also launched a fresh advertising campaign for IBIT on Bloomberg’s homepage. Balchunas described the advert as “Times Square sized,” adding that the asset management firm is “trying to strike while the iron is hot.” This follows an earlier campaign from the firm in February 2024, which was also lauded by members of the cryptocurrency community.
BlackRock iShares advertisement on Bloomberg | Source: Bloomberg
Furthermore, the asset manager recently added four more Wall Street firms as authorized participants for its Bitcoin ETF. These new additions include Citi, Citadel, Goldman Sachs, and UBS, pushing BlackRock’s total APs to nine.
This article first appeared at crypto.news
