BlackRock spot Bitcoin ETF, the iShares Bitcoin Trust (IBIT), has made headlines with a record-breaking inflow of $526 million on Monday.
BlackRock Spot Bitcoin ETF, iShares Bitcoin Trust (IBIT) had a huge $526 million inflow on Monday, the largest single-day gain since March. This big jump shows that institutional investors are increasingly confident in Bitcoin.
BlackRock Spot Bitcoin ETF Hits $22 Billion with $527 Million Inflow
BlackRock Bitcoin investment trust, IBIT, raked in a huge $527 million on July 22nd. This means they now hold a whopping $22 billion worth of Bitcoin.
Monday’s $526 million inflow surpassed IBIT’s previous record from March, when the fund saw $849 million in Bitcoin inflows. This recent increase points to growing interest in Bitcoin from institutional investors.
U.S. Bitcoin ETFs Achieve Top Weekly Inflows in 7 Weeks
The positive trend isn’t just with BlackRock. On Monday, all U.S. spot Bitcoin ETFs combined saw $530 million in inflows, the highest in over seven weeks. This shows that institutional investors are increasingly interested in Bitcoin through ETFs.
While other spot Bitcoin ETFs like Fidelity Wise Origin and Invesco Galaxy also saw inflows, BlackRock’s IBIT dominated the scene, accounting for a whopping 98% of the total.
Analysts Link Bitcoin Revival to Politics and Sentiment
Analysts believes that this renewed interest stems from a mix of factors, including a general improvement in sentiment towards Bitcoin and the recent political developments in the US presidential race. The potential return of Donald Trump to the White House is seen by some as a catalyst for Bitcoin adoption.
Conclusion
BlackRock Spot Bitcoin ETF, IBIT, shattered its daily inflow record with a massive $526 million influx, reflecting a surge in institutional investor confidence in Bitcoin. This trend extends beyond BlackRock as total inflows for all US Bitcoin ETFs reached a 7-week high, potentially driven by positive sentiment and political factors.
Also Read:- SEC Approves Spot Ethereum ETFs (2024): Ethereum Arrives on Wall Street
