Black Rock BTC ETF vs M7
This is a news column stating that BlackRock's Bitcoin ETF inflow has surpassed “Magnificent Seven” stocks.
Finance Yahoo! Com
BlackRock's inflow into Bitcoin exchange trading funds (ETFs) surpassed inflows into “Magnificent Seven” stocks including high-tech giants Microsoft, Apple, Tesla, Amazon, Meta, Alphabet, and Nvidia in 2024.
BlackRock's iShares Bitcoin Trust ETF has accumulated approximately $19 billion per year (YTD) of Bitcoin, surpassing the inflow into highly advertised “Magnificent Seven” stocks. This surprising trend was highlighted by Jeroen Blokland, founder of the Blockland Smart Asset Fund, in an X post on July 23.
Blokland said, “This is more than Invesco's Nasdaq 7 ETF, which includes the hyped Magnificent 100 stock and artificial intelligence boom. Additionally, Fidelity's Spot Bitcoin is ranked 11th and has attracted an inflow of 10 billion dollars.
Due to these substantial inflows, despite the fact that the Bitcoin market size is 90 times smaller than stocks, Bitcoin has become the world's second-largest asset class in terms of inflows this year. This surge underscores investors' growing appetite for bitcoin as an important financial asset.
Bitcoin ETFs in the US have more than $61 billion worth of on-chain holdings in total, which is equivalent to ETFs holding 4.6% or more of the total Bitcoin supply. Last week alone, US spot Bitcoin ETFs saw a net inflow of over $1 billion due to the launch of the first spot Ethereum ETF in the US. BTC is currently trading around $66,000 and has fallen 2% over the past 24 hours following news that BTC from the failed exchange Mt Gox has been returned to creditors.
BlackRock's inflow into Bitcoin exchange trading funds (ETFs) surpassed inflows into “Magnificent Seven” stocks including high-tech giants Microsoft, Apple, Tesla, Amazon, Meta, Alphabet, and Nvidia in 2024.
BlackRock's iShares Bitcoin Trust ETF has accumulated approximately $19 billion per year (YTD) of Bitcoin, surpassing the inflow into highly advertised “Magnificent Seven” stocks. This surprising trend was highlighted by Jeroen Blokland, founder of the Blockland Smart Asset Fund, in an X post on July 23.
Blokland said, “This is more than Invesco's Nasdaq 7 ETF, which includes the hyped Magnificent 100 stock and artificial intelligence boom. Additionally, Fidelity's Spot Bitcoin is ranked 11th and has attracted an inflow of 10 billion dollars.
Due to these substantial inflows, despite the fact that the Bitcoin market size is 90 times smaller than stocks, Bitcoin has become the world's second-largest asset class in terms of inflows this year. This surge underscores investors' growing appetite for bitcoin as an important financial asset.
Bitcoin ETFs in the US have more than $61 billion worth of on-chain holdings in total, which is equivalent to ETFs holding 4.6% or more of the total Bitcoin supply. Last week alone, US spot Bitcoin ETFs saw a net inflow of over $1 billion due to the launch of the first spot Ethereum ETF in the US. BTC is currently trading around $66,000 and has fallen 2% over the past 24 hours following news that BTC from the failed exchange Mt Gox has been returned to creditors.
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