Key Takeaways
- BlackRock’s Bitcoin ETF received an inflow of $143 million, highlighting renewed interest from institutional investors.
- BlackRock is leveraging its position as the world’s largest asset manager to increase client access to Bitcoin.
BlackRock’s Bitcoin ETF, the iShares Bitcoin Trust (IBIT), drew over $143 million in new capital on Tuesday, breaking a run of outflows since December 23 that had reached $449 million and signaling renewed institutional demand for the leading digital asset.
BlackRock, the world’s largest asset manager, has facilitated growing client access to Bitcoin through its investment products. The firm’s spot Bitcoin ETF has emerged as a key vehicle for institutional allocations to crypto assets.
Alongside IBIT, funds managed by ARK Invest/21shares and Fidelity posted strong inflows, pulling in approximately $110 million and $79 million, respectively. Bitwise, VanEck, and Grayscale products also finished the day in positive territory.
US-listed spot Bitcoin ETFs closed Tuesday with $355 million in net capital, snapping a seven-day outflow streak.
The renewed inflows came amid a resurgence in Bitcoin’s price. Bitcoin reclaimed $89,000 on Tuesday before retreating to $88,729, according to CoinGecko data.
Source: https://cryptobriefing.com/blackrocks-bitcoin-143-m-inflows-etf-demand/
