The post BlackRock’s BTC ETF Sees Record Inflows Despite Bitcoin Sentiment Slump appeared on BitcoinEthereumNews.com.

BlackRock’s Bitcoin ETF sees over $500 million in inflows, potentially pushing BTC prices to new highs. Despite lower social media positivity, BlackRock’s $1 billion Bitcoin acquisition boosts ETF assets to nearly $20 billion. In one of our recent articles, we highlighted that Bitcoin ETF inflows have surged past $500 million, potentially propelling BTC price to $71,000 and a new all-time high soon. According to recent activity on July 18, IBIT saw $107 million in inflows, marking the ninth consecutive day of inflows. Thomas Fahrer, a doctorate in Bitcoin Economics and co-founder of Apollo, shared the insight in his tweet that BlackRock has acquired over $1 billion worth of Bitcoin this month, including $107 million today alone. This amounts to 18,600 Bitcoins. JUST IN: Blackrock has purchased over $1B worth of #Bitcoin this month – Including $107M Today. That’s 18,600 #Bitcoin This is a total acceleration of inflows 🚀 pic.twitter.com/nPptlIyEvX — Thomas | heyapollo.com (@thomas_fahrer) July 18, 2024 Furthermore, it is worth noting that seven out of these nine days saw inflows exceeding $100 million, an unusual event in the ETF industry, as noted by Thomas Fahrer. However, despite these inflows, positive commentary on Bitcoin has significantly decreased on social media compared to four months ago, according to blockchain market intelligence firm Santiment. According to today’s Coin Market Cap data, Bitcoin (BTC) is trading at $63,984.18 with a surge of $12.11%  in the past week. See price chart below. Perhaps, as discussed in a previous CNF report, BlackRock’s Bitcoin ETF is fast approaching $20 billion in assets, making it among the top 3% ETFs in the world despite the Bitcoin Sentiment Slump. Recommended for you:           No spam, no lies, only insights. You can unsubscribe at any time. Source: https://www.crypto-news-flash.com/blackrocks-btc-etf-sees-record-inflows-despite-bitcoin-sentiment-slump/?utm_source=rss&utm_medium=rss&utm_campaign=blackrocks-btc-etf-sees-record-inflows-despite-bitcoin-sentiment-slump

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Filed under: News - @ July 19, 2024 11:18 pm