BTC/USD: Bitcoin ETFs Keep Crushing Records with $9 Billion Picked Up in Five Weeks
Record prices, record inflows â whatâs not to like? Bitcoin has never been hotter and institutions are finally in on it. đĽ Record Inflows into BTC ETFsBitcoin is quickly turning into a highly-coveted asset for institutional investors. Over the past five weeks (and thatâs when we got the record high), inflows into all hit a record $9 billion. BlackRockâs iShares Bitcoin Trust has become the institutional darling, pulling in the bulk of that hulking amount. đ° BlackRock Towering Over BTC ETF SpaceWith just over $71 billion in assets under management, BlackRockâs BTC ETF is now the 23rd largest ETF in the US, according to data compiled by Bloomberg. On April 29 alone, IBIT picked up more than $970 million in inflows, its second-largest single-day haul since inception back in January last year. Whatâs even more impressive is that the fund hasnât had a down day since â a string of 33 days of green. đ Bitcoin Out There with Big FishBitcoin ETFs are no longer a sideshow â theyâre now a mainstream financial vehicle, with flows that rival major equity and bond ETFs. This realization has helped turbocharge Bitcoinâs price action, with the digital asset up more than 50% from its April lows. đ Whatâs Special About ETFs?The ETF format offers regulatory cover and ease of access, making it the perfect gateway for conservative money to join the Bitcoin rally. In other words, you donât need to be a crypto bro to get a piece of the pie. Gone are the days of wallet keys and cold storage debates â now itâs just ticker symbols and portfolio rebalancing. All of this comes amid record-breaking price moves, with Bitcoin hitting new highs last week. On Friday, prices had retreated slightly and were trading near $105,000 per coin.