BlackRock Bitcoin ETF IBIT Sees $639 Million Inflows and 6,088 BTC Acquired
BlackRock’s iShares Bitcoin Trust (IBIT) reported significant inflows, totaling $639 million on June 17, acquiring over 6,000 Bitcoins. Key points include:
- Net inflows for IBIT since inception exceed $50.67 billion, outpacing Fidelity’s FBTC, which has $11.4 billion.
- Total holdings for IBIT reached 674,248 BTC, with net assets under management at $70.4 billion, based on a Bitcoin price of $104,000.
- Daily trading volume for IBIT was $3.2 billion, marking the largest single-day inflow since May 22.
- IBIT holds a 54% market share of the total Bitcoin ETF market, valued at $131 billion.
Despite BlackRock's strong performance, overall US Bitcoin ETF inflows dropped to $216 million, influenced by $208 million in outflows from Fidelity’s FBTC and $191 million from Ark Invest’s ARKB. The decline corresponds with a BTC price drop to an intraday low of $103,371 amid geopolitical tensions in the Iran-Israel conflict. This trend also reflects a decrease in Bitcoin futures open interest, indicating reduced leveraged trading activity.
Market participants are awaiting the FOMC meeting for potential updates on interest rate cuts from Fed Chair Jerome Powell.