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BlackRock’s Bitcoin ETF Aiming for Record-Breaking Inflow Streak

According to a chart provided by Eric Balchunas, Bloomberg’s senior ETF analyst, BlackRock’s iShares Bitcoin ETF (IBIT) has managed to secure 64 consecutive days of inflows.

Fidelity’s inflow streak ended at 63 days on Friday as it took in $0. $IBIT still alive w/ 64 days and looking to tie $USMV tonight for 14th spot all-time. Can it still take in cash despite this wknd’s volatility (altho much of it rebounded so ETF invs none the wiser)? We’ll… https://t.co/6fDTfDCD1Q pic.twitter.com/CDdLjflfPE

— Eric Balchunas (@EricBalchunas) April 15, 2024

IBIT now has the 14th longest streak among all ETFs after recently surpassing the MSCI USA Minimum Volatility (USD) Index, a popular low-volatility fund that aims to offer protection from a bear market.

The streak of Fidelity’s Wise Origin Bitcoin Fund (FBTC) ended at a total of 63 days before it eventually recorded zero inflows on Friday.

The JPMorgan Equity Premium Income ETF (JEPI), which offers exposure to large-cap U.S. stocks, comes in third place with 160 days. Vanguard Total International Bond ETF (BNDX), which invests in non-U.S.-dollar-denominated bonds, boasts 104 days of inflows. The Pacer US Cash Cows 100 ETF (COWZ), which tracks the equities of the 100 companies with the highest free cash flow yield, is in third place with 103 days.

For now, it seems like BlackRock’s inflow streak will keep expanding. On Friday, it managed to record a decent $111.1 million worth of inflows.

Pouring cold water on Hong Kong ETFs

As reported by U.Today, Hong Kong approved several Bitcoin and Ethereum ETFs on Monday. While this was seen as a very bullish development by the cryptocurrency community, Balchunas was quick to pour cold water on these products due to their limited significance. “Don’t expect a lot of flows (I saw one estimate of $25b that’s insane). We think they’ll be lucky to get $500m,” he said.

He named the small size of the local ETF market, the absence of big-name issuers, relatively poor liquidity and high fees as the key reasons why these products are unlikely to attract significant inflows.

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