BlackRock’s location bitcoin exchange-traded fund (ETF) has now joined an abnormal club of ETFs with over $10 billion in resources under management (AUM) — and the fund hit that impress in a epic-environment seven weeks.

The iShares Bitcoin ETF (IBIT) first started trading on Jan. 11 with a slate of various location funds that had apt bought approval from the U.S. Securities and Switch Commission. IBIT isn’t apt performing neatly for a location ETF. Simplest 152 ETFs total out of the three,400 in existence are within the $10 billion club, Bloomberg ETF analyst Eric Balchunas wrote in a tweet. More than three-quarters of IBIT’s resources under management advance from inflows, neatly-known Balchunas.

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IBIT’s inflows of $603.9 million on Thursday have been strong passable to utterly offset the nearly $600 million in outflows from the Grayscale Bitcoin Belief, a beforehand present product that transformed to a location bitcoin ETF, in step with recordsdata from Bloomberg ETF analyst James Seyffart. The second-strongest performer within the neighborhood used to be the Fidelity Figuring out Beginning save Bitcoin Fund at $44.8 million, which reveals IBIT’s dominance.

Total, IBIT is trailed by Fidelity’s Figuring out Beginning save Bitcoin Fund (FBTC) with $6.5 billion in AUM, ARK 21Shares Bitcoin ETF (ARKB) with $2.1 billion, and Bitwise Bitcoin ETF (BITB) with $1.5 billion. With the exception of the Grayscale Bitcoin Belief, the nine original location bitcoin ETFs have $21.2 billion in resources under management.

The worth of bitcoin (BTC) used to be down 1.7% over the final 24 hours to $61,800, in step with CoinGecko, terminate to its epic high label of apt above $69,000 reached in Nov. 2021.

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