Bitcoin ETF IBIT, Surge into top 5 net inflows... BlackRock 'Pac-Man' effect draws attention

The Bitcoin Spot ETF ‘IBIT’ operated by BlackRock recorded a net inflow of 9 billion dollars this year, ranking within the top 5 based on net inflow among all US-listed ETFs. Bloomberg's ETF specialist analyst Eric Balchunas reported this fact, explaining that just a month ago, IBIT's net inflow ranking was merely 47th, but has surged in ranking with a net inflow of 6.5 billion dollars in the past month alone.

Balchunas likened “IBIT to sucking in market funds like Pac-Man,” and analyzed that as the yield appeal of Gold ETFs and cash-like ETFs has decreased, investors are turning their eyes back to risky assets like Bitcoin. He added that IBIT's inflow ranking is recovering to levels reminiscent of last year's bull market. As the cryptocurrency market gradually stabilizes within institutional investment flows, interest in ETF products by large asset managers is again rising.