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on monday, Black Rock The Bitcoin exchange-traded fund saw its biggest daily inflows in more than 35 days. The iShares Bitcoin Trust (IBIT) received net inflows of $224 million.
NEW: 🇺🇸 While others are selling, BlackRock is selling. #Bitcoin The exchange-traded fund saw inflows of $224 yesterday.
Highest level in over a month 🚀 pic.twitter.com/sCiSGhKzCp
— Bitcoin Magazine (@BitcoinMagazine) August 27, 2024
The massive capital infusion comes as bitcoin has pulled back slightly from its recent rally. It highlights continued strong demand for IBIT amid mixed inflows to other bitcoin ETFs. IBIT accounted for the bulk of Monday’s total inflows into the U.S. of $202 million. Bitcoin ETFsthe highest flow to the IBIT index since July 22.
last Bitcoin ETFs It has seen mixed results. Franklin Templeton and WisdomTree’s Bitcoin ETFs have added about $5 million each. However, Fidelity The Bitcoin ETF saw outflows of $8 million, while Bitwise and VanEck recorded outflows of over $15 million.
The diverse performance reflects the diverse investor perspectives and strategies in the emerging Bitcoin ETF space. However, inflows into IBIT and other select funds extended the overall inflow streak to eight consecutive days.
With net inflows of over $20 billion, IBIT has cemented its position as the dominant Bitcoin ETF. BlackRock now holds over 350,000 Bitcoins worth nearly $22 billion in the fund.
The asset manager recently added IBIT shares to itsGlobal Strategic Bond FundWhich confirms its confidence. As mainstream adoption grows, BlackRock’s Bitcoin ETF is positioned to see steady inflows.
