BlackRock’s Bitcoin spot ETF (IBIT) celebrated its 69th consecutive day of inflows on Friday, coinciding with the infamous ‘4/20’ date, and the internet was flooded with memes about the milestone. If IBIT continues to see inflows today, it will break into the top ten ETFs with the longest inflow streaks, currently held by JPMorgan Equity Premium Income ETF (JEPI) at 160 days.
The crypto industry had to wait over a decade for the launch of its first spot ETF, but since then, these ETFs have not disappointed. BlackRock, in particular, has been leading the way and recently recorded 69 days of continuous inflows. With just one more day, it will enter the top ten longest streaks in history.
According to data from Farside, IBIT has attracted $15.42 billion in investments as of Friday. On that day alone, it brought in $29.3 million, making it the second-highest in the sector after Fidelity, which added $54.8 million. Fidelity’s FB TC now holds $8.14 billion. Ark’s ETF came in third with $12.5 million, totaling $2.27 billion. However, Grayscale suffered losses, losing $45.8 million for the day and $16.73 billion overall. VanEck’s Bitcoin Trust ETF also experienced net outflows of $1.8 million.
The crypto community quickly noticed BlackRock’s 69-day streak of inflows and flooded social media with memes. The timing of the record, just one day before April 20 (4/20), added to the frenzy.
BlackRock’s dominance in the industry is not surprising, considering the firm manages over $10 trillion in assets, surpassing the combined GDPs of Germany and Japan. However, the level of interest in BlackRock’s fund may have caught many off guard. Only ten other ETFs have had longer streaks of net inflows, with the record held by JEPI at 160 days.
If IBIT continues to attract net inflows today, it will tie with the U.S. Global Jets ETF (JETS) for tenth place with a streak of 70 days. JETS focuses on investments in passenger airlines, airports, airplane makers, and related assets. If IBIT maintains its streak throughout the week, it will climb to eighth place by Friday.
BlackRock’s extensive network in the financial industry continues to attract major players to its BTC ecosystem. Last week, it added some of the largest banks on Wall Street, including Citigroup, Goldman Sachs, UBS, and Citadel Securities, as authorized participants. They joined JPMorgan, America’s largest bank, and trading firm Jane Street in the ecosystem.
At the time of writing, BTC was trading at $66,289 and managed to defy expectations of a “sell the news” phenomenon following its halving, gaining 1.97% in the past day.
