BlackRock Dominates Crypto ETF Inflows With Record Bitcoin Bet
BlackRock, the world's largest asset manager, led net inflows across both Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) on August 24. The firm's iShares Bitcoin Trust (IBIT) accounted for a staggering 62% of the day's total $338 million Bitcoin ETF inflow with a $209 million influx.
This is not an isolated incident, as BlackRock has been driving institutional crypto exposure through most of August. The asset manager's dominance in the space was on full display on August 24, when it led inflows across both crypto ETF categories.
The $338 million net inflow into Bitcoin spot ETFs marked a significant milestone for the cryptocurrency. Meanwhile, Ethereum spot ETFs recorded $116 million in net inflows, with BlackRock's ETHA fund accounting for approximately 78% of the total, or $90.92 million.