NEW YORK, April 24, 2024 - BlackRock, the world's largest asset manager with $10.5 trillion in assets, has seen its spot Bitcoin ETF, the iShares Bitcoin Trust (IBIT), experience 70 consecutive days of inflows. This puts IBIT among the top 10 ETFs with the longest streaks of daily inflows. Since its launch, the fund has accumulated nearly 274,000 BTC, translating to an approximate value of $18.18 billion.

The iShares Bitcoin Trust stands out in the U.S. spot ETF market, where it is one of the 11 funds approved by the SEC as of January 10. According to Bloomberg ETF analyst Eric Balchunas, IBIT is just a day away from joining the top 10 ETFs with the longest inflow streaks. On Monday, the fund saw an additional $19.7 million in inflows.

BlackRock's holdings in the iShares Bitcoin Trust are nearing those of Grayscale’s Bitcoin Trust (GBTC), which holds approximately 304,220 BTC. GBTC has faced substantial outflows since converting from a trust to a spot Bitcoin ETF in January.

BlackRock CEO Larry Fink recently praised IBIT's performance, describing it as “the fastest growing ETF in history” and expressing his strong optimism about Bitcoin’s long-term prospects. Fink noted his surprise at the extraordinary retail demand, saying he could not have anticipated such rapid accumulation of assets.