New York, Friday, November 08, 2024-BlackRock attracted over $1.1 billion in inflows to its spot Bitcoin ETF (IBIT) as Bitcoin surged to new heights.
On November 7, IBIT led the US market with approximately 82% of total inflows to spot Bitcoin ETFs, which collectively amassed $1.34 billion, according to Farside data.
Bitcoin nearly hit $77,000, closing at $76,943, a new high on CoinMarketCap’s charts.
The Fidelity Wise Origin Bitcoin Fund trailed behind BlackRock’s ETF with $190.9 million in inflows, while the ARK 21Shares Bitcoin ETF recorded $17.6 million.
Crypto traders and analysts anticipate continued high inflows.
Bloomberg analyst Eric Balchunas highlighted the unexpected size of BlackRock’s inflow, noting that IBIT’s trading volume on November 6 soared to nearly $1.1 billion within 20 minutes of the market opening.
