The post BlackRock’s Spot Bitcoin ETF Surpasses $1 Billion in Inflows Amid Continued Market Growth appeared on BitcoinEthereumNews.com.

BlackRock’s spot Bitcoin ETF has achieved a remarkable milestone, surpassing $1 billion in inflows for the first time since its debut. This substantial growth reflects a recovering market sentiment, with Bitcoin approaching new all-time highs and attracting significant investor interest. Eric Balchunas, Bloomberg ETF analyst, noted, “Told y’all it was probably gonna be big, although even I am surprised it’s that big,” highlighting the historic nature of this inflow. BlackRock’s spot Bitcoin ETF sees record inflows exceeding $1 billion as Bitcoin nears $77K, signaling robust interest in cryptocurrency investments. BlackRock’s Spot Bitcoin ETF Surpasses $1 Billion in Inflows The recent surge in BlackRock’s spot Bitcoin ETF (IBIT) inflows signals a transformative shift in investor sentiment towards cryptocurrency. For the first time since its launch in January, IBIT recorded $1.1 billion in inflows on November 7, dominating the day’s trading landscape. This performance came after two days of outflows totaling $113.3 million, showcasing the volatility and rapid changes in the cryptocurrency market. Bitcoin Reaches New Heights Amidst Significant ETF Inflows On the same day that IBIT’s inflows peaked, Bitcoin itself reached a remarkable price of $76,943, marking another stride towards its all-time highs. IBIT’s inflows accounted for almost 82% of the total inflows from all 11 US-listed spot Bitcoin ETFs, which collectively amounted to $1.34 billion. In comparison, the Fidelity Wise Origin Bitcoin Fund (FBTC) and the ARK 21Shares Bitcoin ETF (ARKB) trailed behind with inflows of $190.9 million and $17.6 million, respectively. Market Reactions Indicate Increasing Investor Confidence The remarkable one-day inflow into IBIT reflects a broader trend of increasing investor confidence in cryptocurrencies. Analysts and traders are optimistic about the potential for further inflows in the coming days. The Bitcoin Therapist, a well-known crypto trader, suggested on social media, “Expect another massive day tomorrow,” which indicates high expectations within…

---

Filed under: News - @ November 8, 2024 4:25 am