On Oct. 24, BlackRock’s Bitcoin ETF stood out, receiving the bulk of inflows, with $165.54 million.
This suggests growing investors’ confidence and interest in the firm’s crypto ETF products. Compared to Grayscale, which pegged its sponsor fee at 1.5%, BlackRock asks for only 0.25%. This lower fee structure could serve as the advantage that makes IBIT more attractive to institutional and retail investors, especially those who wish to balance cost efficiency and exposure.
Additionally, it reflects institutional investors’ commitment to getting a slice of the highly speculative crypto market through ETFs.
On Friday, ARK 21Shares’ ARKB registered $33.4 million in inflows, while Invesco, Franklin Templeton, Valkyrie and WisdomTree’s products recorded $0 inflows. Generally, the Bitcoin ETF ecosystem is expanding at a fast rate. There is an expectation that Bitcoin ETFs will surpass 1 million BTC in holdings to outshine Satoshi Nakamoto.
The total ETF holdings represent 97% of the one million BTC target, and BlackRock is leading the issuers.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
