BlackRock's Bitcoin Fund Continues to Dominate ETF Market

BlackRock's iShares Bitcoin Trust (IBIT) experienced a significant surge in popularity, rising nearly 6% on one day. The fund attracted $300 million in daily net inflows, with its assets under management now estimated to be around $60 billion.

This is not the first time IBIT has dominated the US spot Bitcoin ETF category's inflows. In August, it captured between 70% and 90% of total flows during peak periods, with cumulative net inflows since its January 2024 launch exceeding $63 billion.

The entire US spot Bitcoin ETF category's AUM has approached $97 billion to $100 billion, meaning IBIT alone accounts for roughly 60% of the whole pie. This level of dominance is a testament to BlackRock's ability to attract significant investments in its fund.