Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
BlackRock’s Bitcoin ETF Sees Record $1.12 Billion Inflow as Investor Interest Soars

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

CryptodnesCryptodnes2024/11/08 18:11
By:Cryptodnes

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.

READ MORE:
Bitcoin Set for Major Surge, Analysts Forecast 40% Price Increase

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.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

There is a Development That Could Be Important For Dogecoin: Company Allegedly Established to Be DOGE’s MicroStrategy

A company has reportedly acquired a major DOGE holding with the aim of becoming Dogecoin’s MicroStrategy. Here are the details.

Bitcoinsistemi2024/11/08 20:00