Today is Monday. BlackRock’s Spot Bitcoin Exchange-Traded Fund (ETF), saw its biggest single-day inflow for over 35 days. The iShares Bitcoin Trust received $224 in new net investments.
NEW: 🇺🇸 While others are selling, BlackRock’s #Bitcoin ETF received $224 of inflows on yesterday.
The highest in more than a month🚀 pic.twitter.com/sCiSGhKzCp
— Bitcoin Magazine (@BitcoinMagazine) August 27, 2024
Bitcoin had recently rallied, but Bitcoin has since retreated slightly. This shows the strong demand that IBIT continues to enjoy despite mixed flows in other Bitcoin ETFs. IBIT was responsible for the majority of the $202 million in total flows into U.S. on Monday. spot Bitcoin ETFsThe highest IBIT inflow was since the 22nd of July.
Another way to get in touch with us spot Bitcoin ETFs Results were divergent. Franklin Templeton, WisdomTree and their Bitcoin ETFs each added around $5 million. However, Fidelity’s Bitwise, VanEck and Bitcoin ETF all saw outflows of over $15 Million.
This reflects the diverse perspectives and strategies of investors in this nascent Bitcoin ETF market. Inflows to IBIT and selected other funds extended the overall inflow streak from eight days straight.
IBIT, the Bitcoin ETF with the largest net inflows of over $20 billion dollars, has established itself as a leader. BlackRock has over 350,000 Bitcoins, worth $22 billion.
Recently, the asset manager added IBIT to its portfolio.ts Strategic Global Bond FundThis shows its trust. BlackRock’s Bitcoin ETF should see steady growth as adoption by the mainstream increases.
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Source: bitcoinmagazine.com
