The BlackRock Bitcoin ETF (IBIT) continues to dominate US Bitcoin ETF market inflows. Wednesday saw IBIT add another $300 million, pushing its total inflows since launch beyond $23.5 billion. BlackRock CEO Larry Fink attributes this remarkable success to key factors of “liquidity and transparency” in Bitcoin markets.

Market Leadership Through Innovation
On April 23rd, spot Bitcoin ETF net inflows reached $192 million according to Farside Investors data. BlackRock’s IBIT contributed over $300 million, acquiring more than 4,500 BTC in a single day – dwarfing the daily Bitcoin mining production of 450 BTC.

BlackRock’s ETF division head Samara Cohen explained that the firm launched IBIT in response to clear global demand for Bitcoin exposure. Speaking at Utah’s Permissionless Conference, Cohen highlighted how the ETF structure provided superior Bitcoin access.

Just 10 months post-launch, Bitcoin ETFs have amassed over $63 billion in market cap. ETF Store President Nate Geraci commented on IBIT’s exceptional performance: “Degen retail has now ape’d nearly $2bil into IBIT over past 2 weeks… Nearly 10mos after launch. $23.5bil into a new ETF in 10mos is mind-boggling. Literally any ETF issuer would sign up for this in a heartbeat”.

Recent 13F filings reveal 80% of US spot Bitcoin product buyers are direct investors. According to Cohen, 75% of these direct investors had never previously owned an iShare product. BlackRock is now focusing on Bitcoin and crypto education for ETF investors.

Cohen noted: “ETFs have been a decentralizing force in TradFi markets that have brought a lot more access and transparency, and importantly, really accelerated in growth during the post-crisis 2008, 2009 period.”

Larry Fink’s Market Perspective
Earlier this month, BlackRock CEO Larry Fink emphasized that Bitcoin adoption stems from “liquidity and transparency” rather than regulation. Regarding potential election impacts on Bitcoin, Fink stated: “I’m not sure if either president would make a difference. I truly don’t believe it’s a function of regulation. It’s a function of liquidity [and] transparency.”

Notably, crypto donations for the current US elections have exceeded $190 million, with both Donald Trump and Kamala Harris actively courting crypto voters.

Disclaimer: Content may include personal opinions and is subject to market conditions. Conduct your own market research before investing in cryptocurrencies. Neither the author nor the publication bears responsibility for personal financial losses.