Before Monday’s net inflow for BlackRock, it had 11 days of zero flows and two days of net outflows. This has been the longest spell for the world’s largest asset manager. Despite these seeming setbacks for IBIT, its dominance remains in the spot Bitcoin ETF space.
From January until now, BlackRock has generated a cumulative $20.9 billion in net inflows. This sets it over $11 billion above the closest asset manager, Fidelity. Fidelity’s FBTC comes in second with $9.6 billion.
Other asset managers in the spot Bitcoin ETF space on Sept. 16 registered zero flows except for Grayscale (GBTC). It saw $20.8 million in outflows. Notably, Grayscale has the highest fee of 1.5%, a factor experts attribute its constant sell-off.
At the time of writing, the world’s premier digital currency, Bitcoin, traded for $59,086, up by 0.68% in the last 24 hours. BTC has witnessed significant positive market sentiment recently, but it has not been sufficient to push it past the $60,000 level.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
