Investment Asset Management Firm BlackRock Has Its Bitcoin ETF Sidelining All of Its Rivals

With an inflow of $2.2 billion this past week, the ETF has successfully outranked 13,227 counterparts all over the world.

Investment asset management firm BlackRock has been making waves in the financial world with its Bitcoin ETF, which has managed to outrank all of its rivals and attract a massive inflow of $2.2 billion over the past week. This impressive performance has put the ETF ahead of 13,227 counterparts from all over the globe.

A Senior ETF Analyst with Bloomberg, Eric Balchunas, highlighted the remarkable achievement of BlackRock's iShares Bitcoin Trust (IBIT), which generated more cash flow than any other ETF worldwide. Among those that were overshadowed by IBIT include the Vanguard S&P 500 ETF ($VOO), iShares Core S&P 500 ETF ($IVV), and iShares Core US Aggregate Bond ETF ($AGG).

$IBIT took in more cash than any other ETF in the world over the past week. This is out of 13,227 ETFs, which includes $VOO $IVV $AGG etc. It’s so hard to beat those veteran Cash Vacuum Cleaners, even for a week, especially for an infant ETF (3mo-1yr old) pic.twitter.com/S443lUXVQk

— Eric Balchunas (@EricBalchunas) October 31, 2024

The weekly flow of $2.287 billion into BlackRock IBIT was closely followed by $2.253 billion into the Fidelity Total Bond ETF (FBND). Given that the Bitcoin ETF is barely nine months old, this feat is considered a major milestone for the asset manager.

On Tuesday, IBIT's trading volume hit $3.3 billion, reaching its six-month high levels. The consistent magnitude of the inflows suggests that institutional Fear of Missing Out (FOMO) has kicked in. This is understandable considering the US Presidential Election is only a few days away.

In a follow-up X post, Balchunas also acknowledged that ETFs in the United States are now within $100 billion of all-time annual flow record. Sustaining this $4b/day momentum could bring the funds up to $970 billion, which is only a stone throw to $1 trillion. At this potential level, the US Bitcoin ETFs can easily beat their old record of $910 billion.

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