So far, the total assets under management of BlackRock's iShares Bitcoin Trust currently amount to $72 billion, representing a huge market share of 54% of the total AUM size of the $131 billion Bitcoin ETF.
In addition to BlackRock's Bitcoin ETF, Fidelity FBTC and ARK from Ark Invest recorded inflows of $83 million and $41 million, respectively, bringing the total inflows to over $408 million among all issuers, according to data from Farside Investors. The data also shows that BlackRock completely outperforms the competition, with its immediate competitor, Fidelity's FBTC, having only $11.6 billion in inflows since its inception.
Spot Bitcoin ETFs have started a new streak of inflows, gaining momentum discreetly. In the last six trading days, these funds have attracted $1.8 billion in new investments, raising the total inflows for the year to approximately $11 billion.
As a result, the price of IBIT shares also gained momentum with a 3.5% rise on Monday, surpassing the crucial resistance of $60. In recent weeks, IBIT has experienced strong stock activity. From the April lows of $44, the stock has already risen over 40%, surpassing $60.
However, if capital inflows to BlackRock's Bitcoin ETF continue, the price of IBIT shares could gain even more momentum. Currently, the price of Bitcoin is trading up 1% at $107,152. Any movement towards its all-time highs could generate greater institutional capital inflows into the ETFs.
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