Bloomberg Senior ETF Analyst Eric Balchunas is convinced BlackRock is thrilled with the success of its spot bitcoin ETF, ticker IBIT, and backed up his assertion with some compelling data.

"I know they're gaga over this IBIT, I mean this ETF IBIT is 24% of all of their flows out of 1,000 ETFs globally," Balchunas said Wednesday during a online panel discussion about Hong Kong's recently approved spot crypto ETFs. "You know that's getting the attention of even Larry Fink."

Fink is CEO of BlackRock, the world's largest asset manager. Balchunas, who analyzes ETFs for Bloomberg, has established himself as one of the most vocal commentators weighing in on the crypto-based spot bitcoin ETFs, which launched in the U.S. earlier this year.

After BlackRock's spot bitcoin ETF began trading in …