Investor capital continues to flow into U.S. spot Bitcoin (BTC) exchange-traded funds (ETFs), with BlackRock (BLK) surpassing $20 billion U.S. of assets under management (AUM).
June 4 marked 15-consecutive trading sessions of net inflows into about a dozen U.S.-based spot Bitcoin ETFs, the strongest performance since mid-March of this year.
The latest allocation of investor capital has pushed BlackRock's iShares Bitcoin Fund (IBIT) to more than $20 billion U.S. of assets under management for the first time.
While there are more than 10 spot Bitcoin ETFs offered in the American market currently, BlackRock has emerged as the sector leader with the biggest and most popular fund.
Data from Bloomberg Intelligence shows that the combined Bitcoin ETFs in the U.S. pulled in $2.40 billion U.S. in fresh capital over the last month, the third-largest number of inflows across the entire ETF market.
Flows into spot Bitcoin ETFs had slowed since mid-March when the price of BTC peaked at an all-time high of just under $74,000 U.S. Inflows declined during April before rebounding.
Since May 16, net inflows into the spot Bitcoin ETFs have averaged $140 million U.S. per day, led by BlackRock’s fund, which pulled in $1.10 billion U.S. over that period.
BlackRock said that its ETF now holds 291,563 Bitcoins valued at $20.15 billion U.S.
The stock of BlackRock has increased 16% over the past 12 months and currently trades at $785.29 U.S. per share.
