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BlackRock’s spot Bitcoin ETF has surpassed $1 billion in inflows for the first time since its launch in January.
Markets News
The world’s largest asset manager, BlackRock, accumulated over $1 billion of inflows to its Bitcoin exchange-traded fund (ETF) across a record trading day as Bitcoin continued to break all-time highs.
On Nov. 7, BlackRock’s spot Bitcoin ETF (IBIT) clocked $1.1 billion in inflows, reclaiming inflow day status after two consecutive days of outflows totaling $113.3 million, according to Farside data.
It comes on the same day as Bitcoin once again clocked new all-time highs, reaching $76,943, according to CoinMarketCap data.
IBIT’s inflows represented almost 82% of the total $1.34 billion in daily inflows into the 11 spot Bitcoin ETFs trading in the United States.
Spot Bitcoin ETFs saw a total of $1.34 billion inflows on Nov. 7. Source: CoinGlass
Bloomberg ETF analyst Eric Balchunas was “surprised” by how significant the inflows were, even though he was anticipating it to be a large amount.
“Told y’all it was prob gonna be big, altho even I am surprised it’s that big, by far biggest one day flow of any btc etf ever,” Balchunas wrote in a Nov. 7 X post.
This is a developing story, and further information will be added as it becomes available.
This article first appeared at Cointelegraph.com News
