MutualFundWire.com: Long-Term Inflows Swell By $9.5B As IBIT's Double

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Friday, March 8, 2024

Long-Term Inflows Swell By $9.5B As IBIT's Double

Long-term industry inflows tripled this week, and inflows into a hot, cryptocurrency-focused ETP more than doubled, according to the latest data from the LSEG Lipper team.

Laurence D. "Larry" Fink
BlackRock
Chairman, CEO

In the U.S. Weekly FundFlows Insight report for the week ending March 6, 2024 (i.e. Wednesday), Jack Fischer, senior research analyst at LSEG Lipper, reveals that $27.3 billion net flowed into mutual funds and ETFs in the U.S. this week. It was the industry's third week of inflows in four weeks, down week-over-week from $47.4 billion. Long-term (i.e. non-money-market) funds brought in $14.2 billion in net inflows this week, up from $4.7 billion last week.

Money market funds led the pack for a second week in a row, thanks to $13.1 billion in net inflows this week, down W/W from $42.7 billion last week. Other winners this week included: taxable fixed income funds, $12.4 billion in net inflows (up W/W from $3 billion); equity funds, $2.6 billion (up W/W from $2.5 billion); tax-exempt fixed income funds, $869 million in net inflows (up W/W from $72 million); and alternatives funds, $108 million in net inflows (down W/W from $221 million).

On the flip side, mixed-assets funds suffered $765 million in net outflows this week, up W/W from $500 million. And commodities funds suffered $1 million in net outflows, down W/W from $569 million.

Equity ETFs brought in $10.7 billion in net inflows this week. It was their third week of inflows in four weeks, up W/W from $9.5 billion.

This week's biggest equity ETF winner was BlackRock's iShares Core S&P 500 ETF (IVV). The fund brought in $2.3 billion in net inflows this week.

Conventional (i.e. non-ETF) equity funds suffered $7 billion in net outflows this week. It was their 108th consecutive week of outflows, roughly unchanged W/W.

Taxable fixed income ETFs brought in $5.8 billion in net inflows this week. It was their 11th consecutive week of inflows, up W/W from $2.5 billion.

This week's biggest taxable fixed income ETF winner, for the fourth week in a row, was BlackRock's iShares Bitcoin Trust (IBIT). The fund brought in $2.7 billion in net inflows, up W/W from $1.1 billion.

As a group, IBIT and the other nine spot bitcoin ETPs collectively brought in $1.9 billion in net inflows this week. This was their seventh week of inflows in a row (up W/W from $1.6 billion), since the funds debuted earlier this year. (The LSEG Lipper team specifically categorizes this new spot bitcoin ETP, and perhaps others like it, with "alternative currency strategies ETFs.")

Conventional taxable fixed income funds brought in $500 million in net inflows this week. It was their ninth consecutive week of inflows, roughly unchanged W/W.

Municipal bond ETFs brought in $118 million in net inflows this week. It was their third week of inflows in a row, down W/W from $350 million.

Conventional muni bond funds brought in $752 million in net inflows this week. That's up W/W from $278 million in net outflows.

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