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BlackRock’s Bitcoin ETF Sees Record $1.12 Billion Inflow as Investor Interest Soars

08.11.2024 11:30 1 min. read Alexander Stefanov
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BlackRock’s Bitcoin ETF Sees Record $1.12 Billion Inflow as Investor Interest Soars

BlackRock’s iShares Bitcoin Trust (IBIT) attracted a massive $1.12 billion in a single day, setting a new record and surpassing its previous peak of $872 million.

This surge reflects growing investor confidence in Bitcoin, bolstered by BlackRock’s reputation and Bitcoin’s recent price rally. On the same day, the ETF saw over $4 billion in trading volume.

Crypto analyst Rachael Lucas attributed this rise to institutional trust, FOMO, and delayed capital flows following recent price gains.

The U.S. presidential election results, with pro-crypto candidate Donald Trump winning, further boosted market optimism, pushing Bitcoin to a new high. The Federal Reserve’s recent interest rate cut added to the appeal for investors.

With the influx into IBIT, net inflows for all 12 U.S. Bitcoin ETFs reached $1.38 billion, a new high. Fidelity’s FBTC and Grayscale’s mini trust also saw significant gains, alongside other funds from Ark, 21Shares, and Bitwise.

Ethereum ETFs likewise benefited, seeing a spike in volume and inflows following the election, with Thursday’s volume reaching $466 million—far above the usual range.

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.

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