BlackRock’s Bitcoin ETF Dominates Market with Record Inflows Amid Price Fluctuations

The momentum in cryptocurrency-linked exchange-traded funds (ETFs) continues, particularly with BlackRock's iShares Bitcoin Trust (IBIT) taking center stage.

Despite Bitcoin struggling to maintain the crucial $68,000 mark, BlackRock has aggressively capitalized on the price dip, acquiring approximately 29,714 BTC (around $2 billion) over nine consecutive trading days. This brings IBIT’s total holdings to 399,355 BTC, worth about $27.16 billion, constituting over 2% of Bitcoin’s circulating supply.

On specific days, BlackRock’s activity included purchases of 2,436 BTC on October 24 and 4,798 BTC on October 23.

Meanwhile, Bitcoin spot ETFs reported a total net inflow of $188.11 million, with IBIT leading the way at $165.54 million, raising its cumulative net inflow to $23.69 billion.

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While Grayscale’s GBTC experienced a net outflow of $7.05 million, Bitwise’s BITB reported a daily inflow of $29.63 million. Among the 1,800 ETFs launched in the last four years, IBIT stands out as the most successful, with $26 billion in assets.

Recently, it saw an additional $323 million in inflows, underscoring its dominance in the market as institutional interest in Bitcoin remains strong.

Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.