Bitcoin ETF has garnered immense traction ever since it received the green signal from the SEC. Now Blackrock and Fidelity’s Bitcoin ETFs have broken another record by marking 49 consecutive days of positive inflows. According to Bloomberg analysts, only 30 other ETFs have faired this well in their trading journey.

Blackrock and Fidelity Bitcoin ETF Break Another Record

According to Bloomberg Analyst Eric Balchunas for the past 49 days, Blackrock and Fidelity have had positive inflows, something that has only been accomplished by 30 other ETFs. However, Blackrock and Fidelity are the only ones to have maintained a positive trading trend since their introduction. At present, Blackrock’s inflows stand at $13.3 billion while that of Fidelity are at $6.9 billion, according to data from Sosovalue.

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Blackrock Establishes Lead Among Bitcoin ETFs

As CoinGape previously reported, with 239,252 bitcoins under its belt, the BlackRock iShares Bitcoin ETF (IBIT) now has more than twice as much as MicroStrategy, a major participant in the cryptocurrency investment space. Given that IBIT has only been around for a short time—less than two months since its founding—this milestone is especially noteworthy.

The quick accumulation of bitcoin by IBIT signifies a significant change in the dynamics of institutional bitcoin investment. In addition to undermining MicroStrategy’s former hegemony, it also highlights institutional investors’ increasing involvement and interest in the Bitcoin market. This move is indicative of a larger trend in which institutions are starting to accept Bitcoin and other digital assets as suitable investment options.

Bitcoin Bridges Trading Gap

A reason for Bitcoin ETF’s success is that it has bridged the gap between traditional traders and digital assets. Amidst these advancements, institutional-grade bitcoin investment solutions, like as IBIT, have shown notable expansion and uptake. IBIT has firmly established itself as one of the biggest spot products for Bitcoin since its introduction by continuously accumulating substantial sums of the cryptocurrency every day. This remarkable rise is indicative of institutional investors’ growing need for safe, regulated channels to access the cryptocurrency space.

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The post Bitcoin ETF: Blackrock, Fidelity Break Record With 49 Straight Days of Inflows appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am