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BlackRock's Bitcoin ETF Hits $18B AUM

  • CoinShares reported $643 million inflow into Bitcoin ETFs last week.
  • Total Bitcoin investments in 2022 surpass 2021 levels.
  • Grayscale Bitcoin Trust experiences significant outflows amid ETF growth.

BlackRock's Bitcoin exchange-traded fund, it started trading on January 11 and is close to holding $18 billion in AUM now. This accredits the fund in third place among all ETFs that were on the market to date.

As per Bloomberg Intelligence ETF analyst Eric Balchunas, SPOT ETF is now 88th in total with other spot ETFs, and this is longer than BlackRock long emerging-markets equity fund, Nikko AM Japanese equity fund, Vanguard US Treasury bond long ETF, as well as VanEck's semiconductor ETF. The total amount of Bitcoin investments in the first nine months of the year stands at $13.8 billion, which is a much greater number than comparable flows in 2021 ($10.3 billion).

On the brighter side, CoinShares emphasized positive signs of investors being less hungry, as ETF investors' weekly inflows have not recovered to their levels in March. Trading volumes during the last seven days that were registered have dropped 59% as opposed to those in the first week of March, peaking at $43 billion and only going below $17.4 billion in the last week of March.

CoinShares, the firm that runs those short Bitcoin investment products, realized that there was $9.5 million in outflows for the third week in a row, and the announcement comes due to minor capitulation of the bearish group of investors. The Grayscale Bitcoin Trust proceeded to suffer large outflows, too, with $731.3 million being withdrawn from the fund only last week.

Edited by Shruti Thapa