BlackRock Spot Bitcoin ETF Records 5250 BTC Inflows, Will The Rally Sustain? ⋆ ZyCrypto
The post BlackRock Spot Bitcoin ETF Records 5250 BTC Inflows, Will The Rally Sustain? ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     BlackRock spot Bitcoin (BTC) ETF saw massive inflows following the broader market rebound. Bitcoin ETFs have continued to dominate institutional demand for crypto assets since the U.S. Securities and Exchange Commission (SEC) approved the funds. Inflows spiked the total digital assets market cap above $3.3 trillion, gaining over 4% in the US trading hours. BlackRock’s Demand Surges BlackRock’s iShares BTC Trust (IBIT) recorded 5,250 Bitcoins in the last 24 hours. This shows growing institutional demand for BTC and other crypto assets, swinging the price past the $100K mark. BlackRock’s inflow outpaced the total daily production, signaling high institutional demand as bulls resume accumulation. Data from Farside shows that the total inflows on Jan 16 stood at $626 million, with IBIT and ArkInvests ARKB controlling the charts. IBIT captured 85% of demand, while the latter saw a huge $155 million in the same time frame. IBIT volumes outpaced both institutional investors and BTC production. The fund recorded 12 times more than the daily 450 Bitcoin production. Meanwhile, Fidelity’s FBTC notched $4.4 million,n while Bitwise’s fund attracted $2.7 million. BlackRock has remained a popular option for most institutional investors since its launch. The fund has over $55.6 billion in assets under management (AUM), exposing traditional investors to Bitcoin. BlackRock’s bid for an ETF in 2023 spiked interest from other traditional firms that filed similar applications. After the approval, the surge in applications and demand ignited the bull cycle, taking the asset price to an all-time high above $73K in Q1 2024. Meanwhile, crypto enthusiast Solana Legend tipped a higher target for the wider market due to surging ETF demand and other factors. Advertisement   “We have the richest man in the world joining forces with the president to kick off a golden age for emergent technology BTC ETF is…
Filed under: News - @ February 2, 2025 8:23 pm