BlackRock and Fidelity’s Bitcoin ETF sees record inflows

Both spot Bitcoin ETFs have seen daily inflows in the 59 trading days since their launch.

BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity Wise Origin Bitcoin Trust (FBTC) broke another record, becoming one of the top 20 exchange-traded funds (ETFs) with the longest continuous inflows of all time.

Bloomberg ETF analyst Eric Balchunas observed on April 8 that two spot Bitcoin ETFs have continued to see capital inflows since their listing 59 trading days ago.

IBIT and FBTC have outperformed 99.9% of all ETFs launched since the market began in the 1990s. As of the end of 2022, there are approximately 9,000 ETFs in the world.

If IBIT and FBTC continue to see inflows, they will move into the top 10 rankings for just 11 more days.

Record-breaking performance

Analysts believe the record performance of BlackRock and Fidelity’s spot Bitcoin ETFs stemmed from several factors, including institutional investors’ growing interest in cryptocurrencies, inflationary pressures, and the search for alternative investments amid global economic uncertainty.

These ETFs offer investors a regulated and safer way to include Bitcoin in their portfolios, avoiding the security and complexities of direct ownership of the cryptocurrency.

IBIT and FBTC also dominate in terms of absolute value of net inflows. As of April 5, IBIT’s net assets totaled nearly $15 billion, compared to FBTC’s $8 billion.

The launch of the spot Bitcoin ETF comes after years of regulatory challenges and skepticism from financial watchdogs such as the U.S. Securities and Exchange Commission, which had expressed concerns about market volatility and manipulation risks associated with cryptocurrencies.

The record performance of these ETFs has fueled hopes of introducing more financial products based on digital assets, and possibly expanding to include ETFs for other cryptocurrencies such as Ethereum.

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