BlackRock’s Bitcoin ETF Is Bleeding Red — and Investors Don’t Care

[tradelikepro]

BlackRock’s spot Bitcoin ETF, IBIT, just sent a powerful signal about investor conviction.

Despite being the only top ETF with a negative return this year, IBIT still ranked sixth in net inflows, pulling in roughly $25 billion. Even more striking: it attracted more capital than gold’s GLD — despite gold being up over 60% on the year.

According to Bloomberg analyst Eric Balchunas, this isn’t weakness — it’s strength. Long-term investors are clearly accumulating through drawdowns, treating IBIT less like a trade and more like a strategic allocation. If this is what inflows look like in a “bad” year, the upside case in a strong cycle becomes hard to ignore.