Quick Takeaways:
- BlackRock’s IBIT ETF now holds 631,962 BTC, valued at approximately $65 billion.
- The fund controls nearly 3% of Bitcoin’s total supply.
- On May 16 alone, IBIT saw $129.73 million in inflows, leading all Bitcoin ETFs.
- Bitcoin ETFs continue to dominate institutional inflows, outpacing Ethereum-based products.
- Premiums to NAV reflect strong investor demand and confidence.
BlackRock Dominates the Bitcoin ETF Space
BlackRock’s iShares Bitcoin Trust (IBIT) is rewriting the narrative for crypto investments. Since its launch, the spot Bitcoin ETF has seen remarkable inflows, outpacing rivals like Grayscale, Ark Invest, and Fidelity. With 631,962 BTC under management, IBIT has quickly become the largest Bitcoin ETF, controlling nearly 3% of Bitcoin’s total supply.
This meteoric rise not only highlights BlackRock’s dominance but also signals growing institutional trust in Bitcoin as a legitimate investment class.
Bitcoin ETFs Pull Strong Inflows—IBIT Leads the Pack
Friday, May 16, was another bullish day for Bitcoin ETFs, with net inflows of $260.27 million. BlackRock’s IBIT led with $129.73 million, followed by:
- Fidelity’s FBTC: $67.95 million
- Ark Invest’s ARKB: $57.98 million
- Grayscale BTC Mini: $4.61 million
In contrast, some funds like GBTC and BITB saw no new inflows, underscoring the market’s clear preference for newer, more cost-effective ETFs.
Ethereum ETFs Lag Behind in Institutional Interest
While Bitcoin ETFs thrived, Ethereum-based ETFs showed limited activity. Fidelity’s FETH led with just $13.57 million, and Grayscale’s ETH Mini followed at $8.55 million. Major funds from VanEck and Bitwise saw zero inflows—a stark contrast that reflects institutional investors’ stronger conviction in Bitcoin over Ethereum.
Premiums Reflect Investor Confidence
On May 16, most Bitcoin and Ethereum ETFs traded at slight premiums to their Net Asset Values (NAVs)—ranging from +0.29% to +0.39%, with only Hashdex’s DEFI ETF showing a minor discount of -0.40%. These premiums signal continued demand and confidence in leading crypto ETFs.
A Turning Point for Institutional Adoption
BlackRock’s massive holdings are more than just numbers—they’re a signal to the traditional finance world. As perception shifts and risk diminishes, institutions like pension and hedge funds are likely to follow. With $65 billion already invested, IBIT could be the gateway for trillions in traditional capital to flow into crypto.
The message is clear: Bitcoin is no longer fringe—it’s institutional.