Categories: Trending now

BlackRock's Spot Bitcoin ETF Records $526 Million in Inflows

BlackRock’s spot Bitcoin exchange-traded fund (ETF), the iShares Bitcoin Trust (IBIT), saw a massive inflow of $526 million on Monday. This marked the largest single day of inflows for the ETF since March.

AD

On July 22nd, IBIT attracted nearly $527 million in net inflows, bringing BlackRock’s Bitcoin fund’s total assets under management to over $22 billion.

Monday’s gain was the seventh-largest daily inflow on record for IBIT in dollar terms. Its previous record was set on March 18th, when the fund saw $849 million worth of Bitcoin inflows.

AD

Across all spot Bitcoin ETFs in the U.S., total net inflows reached $530 million on Monday – the highest weekly total in over seven weeks. The surge signals renewed institutional appetite for Bitcoin investment products.

Other spot Bitcoin ETFs, such as the Fidelity Wise Origin Bitcoin Trust and the Invesco Galaxy Bitcoin ETF, also saw solid inflows. However, BlackRock’s IBIT dominated, accounting for over 98% of total inflows.

- Advertisement -

Analysts cite improving sentiment around Bitcoin as a tailwind for ETF demand. The recent exit of President Biden from the 2024 race and rising odds of a Trump victory are seen as potential catalysts.

AD

BlackRock’s spot Bitcoin ETF is going strong, cementing its position as the largest Bitcoin fund in the world. The huge inflows reflect persistent and growing institutional demand for regulated Bitcoin investment vehicles.

News Today

Share
Published by
News Today

Recent Posts

Kareena Kapoor’s Next Untitled Film With Meghna Gulzar Gets Prithviraj Sukumaran On Board

Kareena Kapoor is working with Raazi director Meghna Gulzar for her next film. The project,…

20 hours ago

Purdue basketball freshman Daniel Jacobsen injured vs Northern Kentucky

2024-11-09 15:00:03 WEST LAFAYETTE -- Daniel Jacobsen's second game in Purdue basketball's starting lineup lasted…

20 hours ago

Rashida Jones honors dad Quincy Jones with heartfelt tribute: ‘He was love’

2024-11-09 14:50:03 Rashida Jones is remembering her late father, famed music producer Quincy Jones, in…

20 hours ago

Nosferatu Screening at Apollo Theatre Shows Student Interest in Experimental Cinema – The Oberlin Review

2024-11-09 14:40:03 A silent German expressionist film about vampires accompanied by Radiohead’s music — what…

20 hours ago

What Are Adaptogens? Find Out How These 3 Herbs May Help You Tackle Stress Head-On

Let's face it - life can be downright stressful! With everything moving at breakneck speed,…

20 hours ago

The new Mac Mini takes a small step towards upgradeable storage

Apple’s redesigned Mac Mini M4 has ditched the previous M2 machine’s SSD that was soldered…

20 hours ago