BlackRock Dominates Bitcoin ETF Inflows With $28.1 Billion
K33 Research reports that Bitcoin ETFs have seen net inflows of $26.9 billion this year. Notably, BlackRock's iShares Bitcoin Trust ETF (IBIT) alone accounted for $28.1 billion, effectively covering losses from other issuers and highlighting its significant influence.
BlackRock's Dominance
- BlackRock's major contribution to Bitcoin ETF inflows suggests potential negative flows without their involvement.
- The iShares Ethereum Trust ETF also saw dominant inflows, although BlackRock remains absent from the altcoin ETF market.
Several firms, including 21Shares, Canary Capital, and Fidelity, have filed for altcoin ETFs with the SEC, but BlackRock has not joined this wave.
Altcoin ETFs and SEC Decisions
- VanEck recently filed for the Lido Staked Ethereum ETF with the US SEC, aiming to track stETH prices via MarketVector’s benchmark index.
- Bitwise Asset Management submitted a filing for a spot Chainlink ETF to track LINK prices, incorporating standard creation and redemption mechanisms.
- These altcoin ETFs are pending approval from the SEC.