BlackRock's iShares Bitcoin ETF (IBIT) increased its assets under management (AUM) by nearly 50% in less than 10 days amid Bitcoin's (BTC) rally to new highs, according to company data released updated March 12.
IBIT has maintained its reign as the largest spot Bitcoin ETF among the Newborn Nine – excluding the converted Grayscale GBTC ETF – since the US SEC approved them in January.
IBIT competes with MicroStrategy's treasure
IBIT has accumulated 203,754 BTC for investors in less than three months, making it the ETF holding the most Bitcoin among the newly approved funds.
This amount puts it just behind MicroStrategy, which recently spent almost $1 billion to increase its holdings to 205,000 BTC.
In comparison, Fidelity's FBTC is the second-largest spot Bitcoin ETF with $9.2 billion in assets under management. BlackRock and Fidelity together raked in more than $17 billion in net inflows from investors.
Following the success of IBIT, BlackRock expressed interest in expanding Bitcoin exposure to its other funds and sought approval from the SEC. Additionally, BlackRock has expanded its Bitcoin ETF offerings to Latin America in partnership with Brazilian exchange B3.
Strong entries
Bitcoin ETFs overall saw net inflows of $505.5 million on March 11, with IBIT leading at $562.9 million, representing a 0.12% increase in total assets.
Other ETFs, including Bitwise's BITB, ARK Invest's ARKB and VanEck's BRRR, also saw inflows, while Invesco's BTCO reported outflows of $9.7 million. Meanwhile, Grayscale saw the highest level of outflows since February 29, with $494 million leaving the fund.
The net inflow of Bitcoin into ETFs was 7,009 BTC, with IBIT accounting for 7,805 BTC of the total. On the other hand, FBTC added 2,988 BTC, BITB 690 BTC, ARKB 180 BTC, and BRRR added 1,648 BTC.
Overall, the funds have seen record performance since their launch, with daily volume topping $10 billion on some days.
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