BlackRock’s Bitcoin ETF surges into top 5 with $9B in investor inflows

BlackRock’s spot Bitcoin ETF, IBIT, has rapidly climbed into the top five U.S. ETFs by year-to-date inflows, attracting over $9 billion from investors, according to Bloomberg ETF analyst Eric Balchunas on X. Just a month ago, IBIT ranked 47th, but has surged with $6.5 billion in new inflows during that time. It recently overtook the short-term Treasury ETF BIL, signaling a shift in investor interest from traditional safe assets like cash and gold toward digital assets like Bitcoin. Balchunas noted that the ETF landscape is beginning to reflect the major investment themes of 2024.