Daily News 19

Tag: iShares Bitcoin Trust

  • BlackRock Drives $217M Bitcoin ETF Rebound as Altcoin Funds Extend Winning Streaks

    BlackRock Drives $217M Bitcoin ETF Rebound as Altcoin Funds Extend Winning Streaks

    US-listed spot Bitcoin exchange-traded funds (ETFs) returned to net inflows on Monday, led by BlackRock, while spot Ether, $XRP and Solana ETFs extended their positive streaks.

    Bitcoin ETFs recorded $216.7 million in net inflows, reversing Friday’s $201.8 million in outflows, according to SoSoValue. Friday’s withdrawals ended a nine-session inflow run that brought more than $3 billion into the funds.

    Bitcoin (BTC) was trading near $78,700 at the time of writing, up approximately 1.5% over the previous 24 hours, according to CoinGecko.

    BlackRock leads US spot Bitcoin ETF inflows

    BlackRock’s iShares Bitcoin Trust ETF (IBIT) accounted for most of Monday’s rebound, attracting $205.9 million in net inflows. The figure represented approximately 95% of the total daily inflows across US spot Bitcoin ETFs, according to Farside Investors.

    Fidelity’s Wise Origin Bitcoin Fund (FBTC) recorded $6.9 million in inflows, while the Bitwise Bitcoin ETF (BITB) added $4.3 million. Morgan Stanley’s Bitcoin Trust attracted $3.6 million, and Grayscale’s Bitcoin Mini Trust recorded $9.4 million in inflows.

    VanEck’s Bitcoin ETF (HODL) was the only fund to post net outflows, recording $13.4 million in withdrawals. The remaining funds reported no flows.

    US spot Bitcoin ETF flows. Source: SoSoValue

    US spot Bitcoin ETF flows per fund. Source: Farside Investors

    Ether, $XRP and Solana ETFs extend inflow streaks

    Spot Ether ETFs attracted $87.7 million on Monday, extending their inflow streak to 11 consecutive trading sessions.

    BlackRock’s iShares Ethereum Trust ETF (ETHA) led the category with $59.9 million in inflows, followed by Grayscale’s Ethereum Mini Trust with $13.5 million and Fidelity’s Ethereum Fund with $9.3 million, according to Farside Investors.

    $XRP ETFs recorded $5.64 million in net inflows, marking their 10th consecutive positive session, according to SoSoValue. The funds have attracted capital during every US trading session since Aug. 18.

    Solana ETFs also posted a 10th straight session of inflows. However, daily inflows fell to $925,010 from $18.1 million on Friday, making Monday’s total the weakest of the current run.

  • BlackRock Secures Over $3.1 Billion in Cryptocurrency Inflows in 8 Days

    BlackRock Secures Over $3.1 Billion in Cryptocurrency Inflows in 8 Days

    Bitcoin (BTC) and Ethereum (ETH) have spearheaded a broad cryptocurrency market recovery over the past two weeks, prompting a massive accumulation spree by BlackRock Inc. (NYSE: BLK). The asset management giant acquired more than $3.1 billion in crypto assets across eight consecutive trading sessions, according to on-chain data analyzed by Finbold on August 28.

    BlackRock’s Bitcoin and Ethereum ETFs Lead $3.16 Billion Buying Spree

    Data from Arkham Intelligence reveals that BlackRock’s iShares Bitcoin Trust (IBIT) purchased a total of 22,722 BTC, valued at approximately $2.2 billion, during the eight-day window. Simultaneously, the iShares Ethereum Trust ETF (ETHA) accumulated 385,633 ETH, worth roughly $961 million. Combined, the purchases total approximately $3.161 billion. Both funds received the assets from Coinbase Prime, the institutional prime brokerage platform operated by Coinbase Global Inc. (NASDAQ: COIN).

    IBIT and ETHA on-chain transactions. Source: Arkham Intelligence.

    Record Inflows Swell IBIT Holdings to $62.3 Billion

    The buying pressure aligns with historic cash inflows into BlackRock’s Bitcoin vehicle. Metrics from SoSoValue show IBIT recorded nine consecutive days of net inflows totaling $2.302 billion between August 17 and August 27. Consequently, IBIT’s total Bitcoin holdings surged to $62.29 billion at the time of reporting.

    IBIT daily cash flow. Source: SoSoValue.

    Ethereum Products See Sustained Momentum

    BlackRock’s Ethereum exposure is also expanding rapidly. The iShares Staked Ethereum Trust ETF (ETHB) has attracted $130.54 million in net inflows over the past two months, lifting its total net assets to $872 million. Since inception, ETHB has experienced only a single month of outflows—$10.06 million in June.

    ETHB daily cash flow. Source: SoSoValue.

    Meanwhile, the flagship iShares Ethereum Trust (ETHA) posted nine straight days of inflows amounting to a net $1.02 billion. This streak pushed ETHA’s net assets to approximately $8.63 billion.

    ETHA daily cash flow. Source: SoSoValue.

    Total Crypto Portfolio Nears $72 Billion

    Cumulatively, BlackRock’s cryptocurrency portfolio across its exchange-traded products reached nearly $71.79 billion as of Friday, underscoring the firm’s dominant position in the institutional digital asset landscape.

    Featured image via Shutterstock.