Bitcoin ETF

Bitcoin

BlackRock

<ul>
 <li>BlackRock’s IBIT recorded $224M inflows, taking advantage of BTC’s brief dip.</li>
 <li>According to CoinShares, inflows in BTC investment products totaled $543M.</li>
</ul>
BlackRock’s iShares Bitcoin Trust ETF (IBIT) has witnessed a significant surge in inflows, marking its highest daily net inflow in 35 days. On August 26, IBIT recorded a $224.1M net inflow as investors took advantage of BTC’s brief slip under $64K.
This marks the most substantial inflow since July 22. It attracted <a href="https://farside.co.uk/bitcoin-etf-flow-all-data/" target="_blank" rel="noopener noreferrer nofollow">$526.7M </a>in a single day as BTC spiked to $67,534. The recent surge in inflows comes at a time when BTC experienced a <a href="https://coinmarketcap.com/" target="_blank" rel="noopener noreferrer nofollow">slight pullback</a>, dropping 1.09% in the last 24 hours to $62,901, down from a daily high of $64,121.&nbsp;
Moreover, this decline follows a weekly rally that saw BTC rise from a seven-day low of $58,756 to a high of $64,475 on August 25. The ETF’s inflows contributed to a record daily net inflow of $202.6 million across all <a href="https://www.sec.gov/newsroom/speeches-statements/gensler-statement-spot-bitcoin-011023" target="_blank" rel="noopener noreferrer nofollow">11 U.S. Spot Bitcoin ETFs</a>.&nbsp;
<h3 class="wp-block-heading" id="h-performance-of-btc-etfs-as-ether-funds-see-outflows">Performance of BTC ETFs as Ether Funds See Outflows</h3>
While <a href="https://thenewscrypto.com/u-s-spot-bitcoin-etfs-witness-65m-inflows-led-by-blackrocks-ibit/" target="_blank" rel="noopener noreferrer nofollow">BlackRock’s IBIT</a> dominated the inflows, other BTC ETFs, Franklin Bitcoin ETF (EZBC) and the WisdomTree BTC Fund (BTCW), saw net inflows of $5.5M and $5.1M. However, some funds, including those from <a href="https://thenewscrypto.com/bitwise-reveals-bitcoin-addresses-for-spot-etf-embracing-transparency/" target="_blank" rel="noopener noreferrer nofollow">Bitwise</a>, Fidelity, and VanEck, experienced combined net outflows of $32.1 million.
Meanwhile, Ether (ETH) ETFs in the U.S. reported joint net outflows of $13.2 million, reflecting a 2.22% drop in ETH’s price to $2,686 over the past day.
Further, the impressive inflows for IBIT come on the heels of its leading position among global crypto investment products for the week ending August 23. According to CoinShares, Bitcoin investment products saw their highest weekly inflows from Aug 18 to 24, totaling <a href="https://thenewscrypto.com/crypto-etp-inflows-surge-to-5-week-high-amid-anticipated-rate-cut/" target="_blank" rel="noopener noreferrer nofollow">$533M</a>. IBIT alone accounted for $318 million of these inflows, highlighting its dominance in the market.
Highlighted Crypto News Today: <a href="https://thenewscrypto.com/base-network-surpasses-1m-daily-active-addresses-with-71-growth/" target="_blank" rel="noopener noreferrer nofollow">Base Network Surpasses 1M Daily Active Addresses with 71% Growth</a>

BlackRock IBIT Sees Largest Inflow in 35 Days Amid BTC Dip

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