The post Bloomberg Analyst Eric Balchunas Calls ‘BTC Spot ETF Failure’ Claim Absurd appeared on BitcoinEthereumNews.com.

Bloomberg’s senior ETF analyst – Eric Balchunas, took to X (formerly Twitter) to dismiss claims that Bitcoin spot ETFs have failed, citing BlackRock’s IBIT ETF as a prime example of success. Balchunas pointed out that BlackRock’s IBIT has garnered more than $2 billion in net inflows within just eight months, countering the narrative that Bitcoin spot ETFs have struggled. In his post, Balchunas stated, “If this ETF is a failure, then I wonder what to call one that currently has $7 million in assets under management (AUM).” His comments come amid discussions about the performance and viability of Bitcoin spot ETFs. According to data from financial information platform Farside Investors, BlackRock’s IBIT has recorded net inflows of $2.091 billion, underscoring its strong performance since its launch. The influx of capital into the ETF highlights growing institutional and retail investor interest in Bitcoin through traditional investment vehicles, refuting any claims that Bitcoin spot ETFs have been unsuccessful. BlackRock’s IBIT: A Strong Performer in the Market BlackRock, the world’s largest asset manager, made waves when it launched its Bitcoin spot ETF, IBIT, earlier this year. Since its debut, IBIT has attracted significant attention from both institutional and retail investors looking for exposure to Bitcoin without the need to directly purchase and store the cryptocurrency. The $2 billion milestone is a testament to the market’s demand for regulated, secure, and accessible Bitcoin investment products. Balchunas’ comments directly address critics who have suggested that Bitcoin spot ETFs have not lived up to expectations. The robust performance of IBIT, especially compared to smaller ETFs with significantly less AUM, indicates that there is substantial interest and belief in the long-term potential of Bitcoin as an asset class. The Success of Bitcoin Spot ETFs in the U.S. Market The launch of Bitcoin spot ETFs, like BlackRock’s IBIT,…

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Filed under: News - @ September 9, 2024 1:26 am