BlackRock's iShares Bitcoin ETF Wins Best New ETF Award, Sees $643.2M Inflow

BlackRock's iShares Bitcoin ETF (IBIT) achieved a significant milestone on April 23, 2024, when it was named the "Best New ETF" at the annual ETF awards. This recognition coincided with a remarkable day for the fund, as it recorded its highest inflows since January 21, 2024, with a substantial $643.2 million inflow. This inflow marked the highest single-day inflow for the fund in three months, underscoring the growing interest and investment in Bitcoin through regulated financial products.

The award was announced by etf.com, and Eric Balchunas, a prominent ETF analyst, expressed his agreement with the decision, stating that it felt right to him. Balchunas also noted that both IBIT and the Vanguard S&P 500 ETF (VOO), which won the "ETF of the Year" award, had achieved unprecedented milestones. The Vanguard S&P 500 ETF has seen an 89% increase over the past five years, according to available data.

IBIT's success was further underscored by its receipt of the "Crypto ETP of the Year" award, adding to its impressive accolades. The fund, which launched in January 2024 alongside ten other US-based spot Bitcoin ETFs, has amassed net assets of approximately $53.77 billion. This substantial asset base reflects the confidence investors have in the fund and the broader acceptance of Bitcoin as a viable investment option.

The inflow of $643.2 million on April 23 was a significant portion of the total $917 million seen across all 11 spot Bitcoin ETFs that day. This marked the second consecutive day with over $900 million in inflows, a notable achievement given that most of the month had seen outflow days due to macroeconomic uncertainties. The large inflow on April 23 was particularly impressive, as it equaled more than 500 times the 2025 daily average, as pointed out by Glassnode.

The success of IBIT is a testament to the growing acceptance of Bitcoin as a mainstream investment asset. The fund's performance and the significant inflows it has attracted indicate that investors are increasingly comfortable with the idea of holding Bitcoin through regulated financial products. This trend is likely to continue as more investors seek exposure to the cryptocurrency market through ETFs and other regulated investment vehicles.