BlackRock, the largest asset management firm globally, recently reported a significant investment in the iShares Bitcoin Trust ETF (IBIT), acquiring 2,535,357 shares worth $91.6 million.
Data from Farside indicates that the ETF saw an influx of $230 million in new investments on Wednesday alone.
Analyst Eric Balchunas highlighted the impressive performance of IBIT, with its trading volume reaching a record $5 billion, making it one of the top three most traded ETFs on that day.
As of the latest update, IBIT is rapidly approaching $30 billion in total inflows, with its net assets currently valued at $42.56 billion.
BlackRock first revealed plans to include IBIT exposure in other funds earlier this year, after the product’s launch in January, which has since seen exceptional market activity.
Bitcoin’s dominance in the cryptocurrency market has been steadily climbing, now reaching 58.8%, up significantly from 51% in December.
U.S. spot Bitcoin exchange-traded funds (ETFs) have marked their tenth consecutive day of net inflows, reaching the longest positive streak since December 2024.
A well-known analyst who accurately predicted Bitcoin’s pre-halving pullback last year is still optimistic about BTC’s potential for a major upward move, despite recent price corrections.
Wyoming is set to introduce its own stablecoin, WYST, by July, marking a significant step in the state’s venture into digital assets.