BlackRock’s iShares Bitcoin Trust ETF attracted $875 million in fresh money on Wednesday.
These are the biggest inflows recorded by the product to date, according to data provided by SoSoValue.
IBIT has now surpassed a whopping $30.8 billion in net assets following its recent winning streak. It reached this milestone was reached in just 293 days, setting a new all-time record. The previous record was held by JPMorgan Equity Premium Income ETF (JEPI), which surpassed $30 billion in 1,272 days.
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Notably, IBIT managed to take in more money in a single day than all but seven of the 590 ETFs launched this year have taken in throughout the entire 2024.
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Other ETF products attracted relatively small inflows compared to IBIT. Fidelity Wise Origin Bitcoin Fund (FBTC) logged a relatively modest $12.57 million worth of inflows on Wednesday. FBTC has now surpassed $13.5 billion in net assets.
Meanwhile, Ethereum ETFs continue to suffer from lackluster demand. Yesterday, BlackRock’s iShares Ethereum Trust ETF (ETHA) recorded zero inflows. Fidelity Ethereum Fund (FETH) recorded $5.6 million in fresh money, barely pushing these products into positive territory.
