The post BlackRock’s IBIT Sees Record Inflows of $875 Million, Surpassing $30 Billion in Net Assets appeared on BitcoinEthereumNews.com.

BlackRock’s iShares Bitcoin Trust (IBIT) has achieved remarkable success, logging an astounding $896 million in inflows in a single day, a milestone for cryptocurrency ETFs. The significant influx of $875 million on Wednesday sets a new record, surpassing all previously recorded inflows for the product and emphasizing the growing investor appetite for Bitcoin. “This record-breaking amount showcased the incredible demand for Bitcoin exposure,” said a spokesperson from BlackRock, emphasizing the growing institutional interest in cryptocurrency derivatives. BlackRock’s iShares Bitcoin Trust hit $896 million in single-day inflows, underlining the rising interest in Bitcoin as a long-term investment. BlackRock’s iShares Bitcoin Trust Sets New Record with $896 Million Inflows In an unparalleled achievement, BlackRock’s iShares Bitcoin Trust (IBIT) has set a new standard in cryptocurrency ETFs by attracting $896 million in a single day. This influx marks a significant moment in the evolution of digital asset investments. Such remarkable inflows reflect not only institutional interest but also a larger trend of mainstream acceptance of cryptocurrencies among traditional investors. Comparative Performance of ETFs: IBIT vs. Fidelity and Others While BlackRock’s iShares Bitcoin Trust continues to establish its dominance, the performance of other cryptocurrency ETFs highlighted contrasting trends. On the same day as IBIT’s record, the Fidelity Wise Origin Bitcoin Fund (FBTC) recorded a modest $12.57 million in inflows, bringing its total net assets to over $13.5 billion. This stark difference illustrates a concentrated demand focused on IBIT compared to its peers. A Shift in Investor Sentiment Towards Bitcoin The substantial interest in IBIT could suggest a shift in investor sentiment favoring Bitcoin as a safe haven asset amidst broader economic uncertainties. Bitcoin has been increasingly recognized for its potential as a store of value, especially as investors look for alternatives amidst inflationary pressures. Ethereum ETFs Struggle for Attention Conversely, Ethereum ETFs are experiencing…

---

Filed under: News - @ October 31, 2024 6:22 am