BlackRock's Bitcoin ETF now approaching $30 billion in total inflows
It took this product just 211 days to reach this groundbreaking milestone. The previous record was held by iShares Core MSCI Emerging Markets ETF .
As noted by prominent ETF analyst Eric Balchunas, IBIT is now in the top 1% of all ETF products by total assets despite the fact that it was launched just 10 months ago.Shiba Inu Shows Perfect Elliott Wave Pattern: Here's What It Means Balchunas even struggled to come up with an appropriate sports metaphor in order to describe the groundbreaking success of Bitcoin ETFs."I'm trying to think of a sports metaphor, like Tiger Woods in '96 or Jordan as a rookie but I don't even those are appropriate given the velocity of the records being broken at only 10mo in the game," Balchunas quipped in a social media post.On Nov. 12, IBIT logged $817 million worth of fresh inflows.
U.S. ETFs are currently on a wild ride. Over the past week alone, they have taken in a whopping $67 billion worth of inflows. These products are now on track to break the all-time annual record of $910 billion. According to Balchunas, they are likely to surpass $1 trillion.Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption.
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