As a seasoned crypto investor with a decade of experience under my belt, I must admit that the recent developments with BlackRock and their Bitcoin ETF have caught my attention. The $1 billion inflow in a single day is simply staggering, and it’s hard not to be impressed by such a significant move from one of the world’s largest asset managers.
On a historic trading day, the world’s biggest asset manager, BlackRock, amassed more than a billion dollars in investments towards its Bitcoin exchange-traded fund (ETF), as the value of Bitcoin reached new record highs.
On November 7th, the BlackRock Bitcoin ETF (IBIT) experienced a significant influx of approximately $1.1 billion, regaining its status as a day with net inflows, following two consecutive days where it had outflows totaling about $113.3 million, according to data from Farside.
Today marks a repetition, as Bitcoin attains yet another record peak, hitting $76,943 based on information from CoinMarketCap.
Approximately 82% of the $1.34 billion in daily inflows to the 11 U.S.-traded Bitcoin ETFs came from IBIT.
According to Bloomberg ETF analyst Eric Balchunas, the inflows were more substantial than he had expected, despite his earlier prediction that they would be considerable.
As a analyst, I had predicted that this could potentially be significant, though I must admit, the scale has taken me aback; indeed, it’s by far the largest single-day Bitcoin ETF flow to date, as stated in my November 7th post on X.
This is a developing story, and further information will be added as it becomes available.
Read More
- TRB PREDICTION. TRB cryptocurrency
- CAKE PREDICTION. CAKE cryptocurrency
- FLOKI PREDICTION. FLOKI cryptocurrency
- XDC PREDICTION. XDC cryptocurrency
- OKB PREDICTION. OKB cryptocurrency
- JTO PREDICTION. JTO cryptocurrency
- OM PREDICTION. OM cryptocurrency
- MNT PREDICTION. MNT cryptocurrency
- CTK PREDICTION. CTK cryptocurrency
- Dandadan Shares First Look at Season Finale: Watch
2024-11-08 06:37