Bitcoin Hits $67,000 as BlackRock Grows for 70 Consecutive Days

Bitcoin is currently trading at $67,000, edging closer to its all-time high reached in March. BlackRock’s Bitcoin ETF continues to attract attention on Monday, extending its streak of consecutive inflows for the 70th day in a row. This has placed BlackRock’s ETF among the top 10 exchange-traded funds with the longest daily inflow streaks.

Earlier on Monday, senior analyst from Bloomberg, Eric Balchunas, posted an image on Twitter demonstrating that if BlackRock’s IBIT fund continues to record net inflows for the 70th consecutive day, it will rank among the most successful exchange-traded funds in history. https://twitter.com/EricBalchunas/status/1782386163698835663

Balchunas wrote: “IBIT’s streak is at 69 days. One more day and it will crack the top 10 and tie with JETS.” Based on data shared by Balchunas, the JETS exchange-traded fund, a fund composed of airline company stocks, has also achieved 70 consecutive days of inflows. Before Monday, JETS stood alone in the 10th position.

According to Bloomberg’s analysis, the JPMorgan Equity Premium Income ETF (JEPI) leads with an uninterrupted streak of 160 days of daily inflows.

BlackRock attracts over $600 million

According to financial sources, BlackRock’s Bitcoin ETF saw inflows of $600 million on Monday, raising its assets under management (AUM) to $18.2 billion.

Grayscale’s Bitcoin ETF, GBTC, maintains its position as the largest fund among cryptocurrency-based funds since they all started trading in January, despite recent trends, including continuous outflows, suggesting that this lead could easily shift to BlackRock, a competitive product.

Grayscale’s fund, which converted from its top fund, started with nearly $30 billion AUM at the beginning of the year, with higher fees compared to BlackRock’s ETF.