Bitcoin ETF

BlackRock

The world’s largest asset manager, BlackRock’s iShares Bitcoin Trust (IBIT), has recorded its biggest day of inflows in over four months. On July 22, the fund saw a massive $523 million influx, equating to 7,759 Bitcoin. 
This substantial addition brings the total inflows into IBIT to 333,000 BTC, valued at around $22 billion at current prices. The July 22 inflow marks the seventh-largest single-day total in U.S. dollars for the fund, according to data from <a href="https://heyapollo.com/bitcoin-tracker/flows" target="_blank" rel="noreferrer noopener nofollow">Hey Apollo</a> shared by its co-founder on July 23. 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
 <img decoding="async" width="528" height="544" src="https://www.cryptotimes.io/wp-content/uploads/2024/07/BlackRocks-Spot-Bitcoin-ETF-Sees-523-Million-Inflows-on-July-22.png" alt="BlackRock’s Spot Bitcoin ETF Sees $523 Million Inflows on July 22" class="wp-image-191635">
 <figcaption class="wp-element-caption">
 Source : <a href="https://docs.google.com/document/d/1fy0G0I0f1moYw7jbqYg8tFrDtUKxh0tnLjF0MU2IGXE/edit#heading=h.x1k2km50em09" target="_blank" rel="noreferrer noopener">Julian Farhrer</a>
 </figcaption>
 </figure>
</div> 
For context, IBIT’s largest day of inflows occurred on March 18, when $849 million worth of Bitcoin was added. The second-largest was on March 5, with <a href="https://www.cryptotimes.io/2024/03/06/blackrocks-ibit-etf-shatters-records-with-788-million-inflow/" target="_blank" rel="noreferrer noopener">$788 million in inflows</a>, as noted by FarSide investor data. 
The timing of this significant inflow coincides with the approval of spot Ether ETFs for trading in the U.S. Analysts anticipate that spot Ether ETFs could attract 10% to 20% of the flows seen by spot Bitcoin ETFs since their launch in January. 
Looking ahead, analysts are optimistic about Bitcoin’s price. They point to recent political developments, including President Biden’s withdrawal from the presidential race and the increased likelihood of Donald Trump’s victory, as potential catalysts for Bitcoin’s price growth.&nbsp; 
Markus Thielen of 10x Research suggested that Trump might announce Bitcoin as a strategic reserve asset at the upcoming Bitcoin 2024 conference in Nashville on July 25, which could lead to a significant price surge. 
Bryan Courchesne from DAIM also believes that Trump could solidify Bitcoin’s status as a strategic reserve asset, potentially driving Bitcoin’s price higher in the near future. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/07/20/blackrock-fidelity-ark-vaneck-increase-crypto-holdings/" target="_blank" rel="noreferrer noopener">BlackRock, Fidelity, ARK, VanEck Increase Crypto Holdings</a> 
</blockquote>

BlackRock Bitcoin ETF Sees Largest $523M Inflow in 4 Months

The Crypto Times

Other articles published on Jul 23, 2024

OKX Introduced OKX Racer A New Prediction Game

WHY memecoin: Can it be the next Dogecoin after touching $100M?

Highly Awaited Spot Ethereum ETFs Officially Launched! How much ETH is in the wallet of the issui...

Zeebu Heading to Bitcoin 2024 with an Exclusive Opening Party at Topgolf Nashville

MoonBag Presale Defies Gravitation to Take Off as AAVE Set to Launch on Aptos Mainnet

Samson Mow Slams ETH Ahead of Ethereum ETF Launch

Join our free newsletter for daily crypto updates!