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BlackRock’s Spot Bitcoin ETF Sees Highest Daily Inflow in Over a Month

by Sham
August 27, 2024
in Crypto
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BlackRock’s Spot Bitcoin ETF Sees Highest Daily Inflow in Over a Month
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• Bitcoin ETFs have been on an impressive winning streak.
• BlackRock’s ETF recorded a standout one-day inflow record.
• The positive trend for the ETFs aligns with a recent market boom.

U.S.-listed spot Bitcoin exchange-traded funds (ETFs) have been on an impressive streak this week, attracting hundreds of millions in new investments. Amid the positive trend, one issuer has emerged as a standout performer.

JUST IN: BlackRock’s Spot #Bitcoin ETF saw $224 million in inflows yesterday 👀

— BlockNews.com (@blocknewsdotcom) August 27, 2024

BlackRock’s Bitcoin ETF Shines

The ongoing surge in Bitcoin ETF inflows has reached a remarkable 12-day streak, with recent performance by BlackRock’s IBIT taking the spotlight. IBIT led the charge with an impressive $224 million, marking its largest inflow in over 30 days. The strong performance set IBIT apart from other issuers by a wide margin.

In contrast, other issuers experienced outflows or neither inflows nor outflows. The surge in investments for the leading issuers comes as Bitcoin displays impressive performance over the weekend.

Bitcoin’s Brief Rally

Bitcoin, the largest crypto asset, recently recorded a price uptick, following two weeks of being confined within the $59,000 range. While BTC’s value has since readjusted, its strength triggered excitement across the market and a subsequent wave of investments.

Bitcoin-linked investment assets also saw inflows, contributing to the overall recovery in crypto products recording their highest inflows in over five weeks.

Other Notable Points

  • Ethereum ETFs are underperforming with consistent outflows.
  • BlackRock’s IBIT has amassed approximately $22.7 billion in AUM.
  • Hong Kong’s Bitcoin ETFs recently demonstrated impressive performance.

Why This Matters

BlackRock’s performance reinforces its position as a leading Bitcoin ETF issuer, and the steady influx of funds highlights increasing investor confidence.

Related Articles

  • Ethereum ETFs Wrap Up Their Debut Month: Are Results Promising?
  • Russia Advances Crypto Payments Trials: Confirmation of a U-Turn?

Conclusion

The positive trend for Bitcoin ETFs aligns with the recent market boom, signaling renewed confidence in Bitcoin-backed assets. BlackRock has emerged as a standout performer amid this trend.

Tags: bitcoin etfsblackrockEthereum ETFsIBIT
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