Since the listing of the Bitcoin spot ETF, it has been falling every day! BlackRock breaks through $1 billion.

On Thursday, BlackRock's spot Bitcoin ETF (IBIT) surpassed the $1 billion mark, becoming the first Bitcoin ETF to do so among the ETFs listed last week. Data compiled by the media shows that investors deposited $371 million into BlackRock's spot Bitcoin ETF on Wednesday.

Fidelity Investments followed closely behind. The company's spot Bitcoin ETF (FBTC) received a capital inflow of $358 million on Wednesday, setting a new record for the fund's highest daily inflow since its launch a week ago. This Bitcoin ETF has a total size of approximately $880 million.

The U.S. Securities and Exchange Commission (SEC) approved the first spot Bitcoin ETF for trading last Thursday, January 11th. Last week, a total of 11 Bitcoin ETFs were listed, with 9 of them being newly listed. BlackRock and Fidelity's Bitcoin ETFs, both of which are newly listed, emerged as the biggest winners among the 9 ETFs, receiving a combined 68% of the capital inflow.

Industry insiders commented that it is not surprising that BlackRock is the winner, given their abundant resources. This also demonstrates their level of importance and attention to this asset class. There are too many opportunities not to be missed.

Data shows that the significant capital inflow received by BlackRock and Fidelity Investments comes from Grayscale Investments' Bitcoin ETF (GBTC). Grayscale's Bitcoin Trust Fund was established in 2013 and managed assets worth over $28 billion when it converted to an ETF. However, when other issuers' Bitcoin ETFs were also approved, funds flowed out of Grayscale, amounting to approximately $1.6 billion.

It is worth mentioning that Grayscale's Bitcoin ETF management fee is as high as 1.5%. In comparison, BlackRock and Fidelity's management fees are only a fraction of that. Nevertheless, the management fees of these two giants are still not the lowest. Currently, Franklin Templeton has the lowest management fee among Bitcoin ETFs, at only 0.19%. However, its Bitcoin ETF has received less than 2% of the capital inflow. Industry insiders believe that due to BlackRock and Fidelity's institutional and retail distribution networks, these two industry giants may gain more market share in the future.

Regarding the company's spot Bitcoin ETF, Rachel Aguirre, the head of BlackRock's U.S. iShares products, stated that BlackRock's products have attracted the attention of retail investors from the beginning, and the company is also working to attract new investors who are unfamiliar with this asset class. "We see capital inflows coming from various directions. The interest in spot Bitcoin ETFs comes from both the retail market and self-directed investors. Some investors have made investments in the early stages, and we are also paying attention to those who are just starting to focus on this new asset class. We are very excited about this." Since the listing of the Bitcoin ETF, the trend has been increasingly "selling the fact". Last Thursday, Bitcoin briefly rose above $49,000, reaching a new high since December 2021, with an intraday increase of about 6.8%. However, the enthusiasm quickly faded, and Bitcoin fell back below $46,000 on the same day. According to BlackRock's IBIT, the ETF has been declining every trading day since Bitcoin's listing. This Thursday, Bitcoin fell to around $41,000 during the trading session.

A prominent figure with over 900,000 followers on X platform (formerly known as Twitter) stated that he opened a short position of $300,000 on Thursday, claiming that this is the only way to drive up the price of Bitcoin in the future.