BlackRock's IBIT spot bitcoin exchange-traded fund (ETF) has attracted over $15 billion in total inflows since its launch on January 11. Despite its initial success, daily inflows for spot Bitcoin ETFs have been decreasing since reaching $1.05 billion on March 12.

BlackRock's IBIT had its highest daily inflow since April 5, with $192.1 million coming in. This brings its total inflows to $15.1 billion, according to Farside data. Bloomberg's ETF analyst Eric Balchunas noted that IBIT saw a significant increase of over 50% and attracted $15 billion in new capital in just three months. Balchunas highlighted that this amount is double that of any other among BlackRock's 421 ETFs, showcasing its strong performance in the market.

IBIT led yesterday's inflows for U.S. spot Bitcoin ETFs, outpacing Grayscale's GBTC fund which faced outflows of $124.9 million. Bitwise's BITB received inflows of $11.1 million, while Valkyrie's BRRR and Fidelity's FBTC attracted $8.4 million and $4.6 million, respectively. With some funds recording no flows on Thursday, the overall net inflow for all spot Bitcoin ETFs amounted to $91.3 million.

BlackRock's spot bitcoin ETF saw a surge in inflows due to a recent advertising campaign. Trading volume for the ETF stayed at $2.5 billion on Thursday, with IBIT leading at $1.1 billion. However, daily volume has dropped from its peak of $9.9 billion on March 5, when bitcoin reached over $69,000.

The milestone in inflows for BlackRock's spot bitcoin ETF occurs amidst a heightened advertising push for the product, indicating an intensifying battle for market attention. "iShares is heavily promoting its spot bitcoin ETF with multiple banner ads visible on the Bloomberg home page," noted Nate Geraci, President of The ETF Store. "We're only three months into this; the marketing competition is just beginning."

Despite fluctuations in bitcoin's price, BlackRock's spot Bitcoin ETF has exceeded $15 billion in assets under management as of April 12 and is now nearing $20 billion in AUM.

Image Source: Angus Mordant/Bloomberg