BlackRock dominates all ETFs with $3.5bn haul: ‘that’s how hungry the fish are’

Core Insights - BlackRock's Bitcoin ETF, IBIT, led the market with $3.5 billion in inflows, accounting for 10% of all net ETF inflows [1][4] - The total inflows into Bitcoin ETFs reached approximately $4.8 billion last week, with 43,100 Bitcoin acquired [3] - Year-to-date inflows into Bitcoin ETFs are nearly equal to last year's total, standing at $48.3 billion compared to $48.5 billion [3] Company Performance - BlackRock's IBIT, launched in January 2024, has quickly amassed nearly $100 billion in assets under management, making it the most profitable ETF in BlackRock's portfolio [4] - The inflow of $3.5 billion into IBIT surpasses the total crypto venture capital funding for Q1 2024 [8] Market Conditions - The current favorable conditions for Bitcoin investment are influenced by the Federal Reserve's interest rate cuts and the ongoing U.S. government shutdown, which has led investors to seek protection [5][6] - Bitcoin reached an all-time high of over $126,000, driven by BlackRock's strong demand and macroeconomic factors [6]