BlackRock’s iShares Bitcoin Trust (IBIT) is experiencing a remarkable surge in capital inflows, dominating the US spot Bitcoin ETF market. The past 10 days saw a staggering $4.26 billion poured into IBIT, marking an uninterrupted influx for over 33 business days and propelling its assets under management to a new high of $72 billion. This unprecedented success has established IBIT as a clear leader in the crowded ETF landscape. Experts attribute this surge to factors such as expanding decentralized finance (DeFi) applications and increased interest from institutional investors. IBIT stands out with minimal capital outflow over this period, unlike other competitors. 2024 is just getting started, and IBIT’s growth has been significant, surpassing the $49 billion mark for total capital inflows since January. The sheer volume of investment highlights a shift in investor sentiment towards Bitcoin.