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.
BlackRock’s iShares Bitcoin Trust (IBIT) has officially crossed the 700,000 BTC mark, reinforcing its position as one of the fastest-growing exchange-traded funds in financial history.
Bitcoin may be gearing up for a significant move as its volatility continues to tighten, according to on-chain insights from crypto analyst Axel Adler.
Two major developments are converging in July that could shape the future of Bitcoin in the United States—both tied to President Trump’s administration and its expanding crypto agenda.
Digital asset investment products recorded $1.04 billion in inflows last week, pushing total assets under management (AuM) to a record high of $188 billion, according to the latest report from CoinShares.