Cryptocurrencies

Bitcoin Magazine: Blackrock Bitcoin ETF Enters Top 10 All-Time for Longest Inflows

Posted on by Andrew Packer

There are many ways to measure investor interest. Doing so can give traders an edge. By following where money is going, it’s easier for traders to follow the momentum.

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    • Plus, when volume starts to slow down to a popular investment, traders can exit. Ideally, that occurs around the time prices start to turn. At the sector or market level, data about money flowing into and out of funds provides a strong proxy.

    Currently, fund data for the new bitcoin ETFs shows that BlackRock’s bitcoin ETF (IBIT) reigns supreme. The ETF is now in the top 10 ETFs in terms of the streak of daily investment inflows.

    In the first 70 days since its inception, IBIT has seen its total holdings increase from investor funds moving in. That means zero days of funds moving out.

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    Meanwhile, BlackRock, the world’s largest asset manager, holds over 270,000 bitcoin on its balance sheet. That’s currently valued at over $18 billion.

    Most of the other new bitcoin ETFs have likewise seen strong inflows to their funds. That shows that investors are interested in owning bitcoin, without the hassle of a separate cryptocurrency account.

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    • As long as these inflows continue, bitcoin should continue to see price appreciation. The recent halving reduces the new supply coming to market, which could lead to a big jump higher later this year.

     

    To read the full analysis, click here.