BlackRock’s Bitcoin ETF Just Achieved Tremendous Milestone

utoday
23 May

According to Bloomberg's Eric Balchunas, BlackRock's iShares Bitcoin Trust ETF (IBIT) topped the U.S. leaderboard for the first time on Thursday.

As reported by U.Today, Bitcoin ETFs secured nearly $1 billion on Thursday, with IBIT accounting for virtually all of them ($877 million). IBIT has now attracted roughly $8 billion in roughly a month, pushing the price of Bitcoin to record highs. 

David Lawant, head of research at FalconX, has noted that this might be the first time that Bitcoin has set a new record high when ETF flows are outmuscling spot flows. 

The iShares 20+ Year Treasury Bond ETF (TLT) brought in $851 million, settling for second place. 

The First Trust Long/Short Equity ETF (FTLS), which provides market exposure with downside protection, is in third place with $808 million. 

The iShares Core S&P 500 ETF and the iShares MSCI EAFE Value ETF, which focus on international value equities, are also in fourth and fifth places. 

The fund also managed to surpass the Vanguard S&P 500 ETF (VOO), the absolute juggernaut that allows investors to gain exposure to the index that represents the top 500 U.S. companies. That said, VOO, of course, remains the dominant ETF during the week and month.

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