BlackRock’s spot bitcoin ETF continued its hot streak on Monday, adding net inflows for the 70th straight day. That put the financial giant’s ETF in the top 10 of exchange-traded funds with the longest daily streaks of inflows.
Earlier on Monday, Bloomberg senior ETF analyst Eric Balchunas posted a graphic to X demonstrating that if BlackRock’s fund, ticker IBIT, succeeded in registering a 70th consecutive day of net inflows it would rank the exchange-traded fund among some of the most successful in history.
“IBIT inflow streak currently at 69 days. One more day and it moves into top 10 and ties JETS,” Balchunas posted. The JETS exchange-traded fund, which combines shares in companies operating in the airline industry, has also achieved 70 straight days of inflows, according to data posted by Balchunas. Before Monday, JETS sat alone at number 10.
Longest daily inflow streaks for ETFs. Image: Bloomberg.
With 160 straight days, the JPMorgan Equity Premium Income ETF, or JEPI, tops the list with the longest streak of daily inflows, also according to the Bloomberg analyst’s post.
BlackRock adds over $600 million
BlackRock’s spot bitcoin had $600 million in net inflows on Monday, bringing its total assets under management, or AUM, to 18.2 billion, according to the financial institution.
Grayscale’s spot bitcoin ETF, ticker GBTC, has maintained its lead as the largest among the crypto-based funds since they all began trading in January, although recent trends, including consistent outflows, appear to show it may be vulnerable to losing that distinction to BlackRock’s rival product.
Grayscale’s fund, a conversion of its flagship fund which began with nearly $30 billion in AUM when it launched earlier this year, charges a higher fee than BlackRock’s ETF.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.