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Bitcoin ETF

Bitcoin

BlackRock’s spot Bitcoin exchange-traded fund (ETF) has notched its biggest day of inflows in over four months, with over $523 million entering the fund on Monday.
The iShares Bitcoin Trust (IBIT) scooped up 7,759 Bitcoin (<a href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow">BTC</a>) on July 22 — worth just over $523 million at current prices — according to Hey Apollo <a href="https://heyapollo.com/bitcoin-tracker/flows" target="_blank" rel="noopener noreferrer nofollow">data</a> cited by its co-founder in a July 23 <a href="https://x.com/julian__fahrer/status/1815532825619435941?s=46&amp;t=MuRujqZUAz3TQE1vmr3c6A" target="_blank" rel="noopener noreferrer nofollow">post</a> to X.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-07/62ff241e-64d8-41c6-bc8e-3ca09099e820.png" alt="BlackRock’s IBIT records biggest inflow day since March at $523M">
 <figcaption style="text-align: center;">Source: <a href="https://x.com/julian__fahrer/status/1815532825619435941?s=46&amp;t=MuRujqZUAz3TQE1vmr3c6A" target="_blank" rel="noopener noreferrer nofollow">Julian Fahrer</a>
 </figcaption>
</figure>
The July 22 addition brings the total sum of inflows into BlackRock’s fund to 333,000 BTC which equates to $22 billion at current prices.
It marks the seventh-largest day on record for inflows into IBIT in US dolla
IBIT witnessed its largest single day of inflows on March 18, when $849 million worth of BTC was added to the fund.
The second-largest day on record occurred on March 5, when the fund saw $788 million in inflows, per FarSide investor <a href="https://farside.co.uk/?p=1321" target="_blank" rel="noopener noreferrer nofollow">data</a>.
Related: <a href="https://cointelegraph.com/news/gary-gensler-resign-2025-biden-exit-white-house-10x-research" rel="noopener noreferrer nofollow">Gary Gensler will likely resign in 2025 after Biden exit — 10x Research</a>
The massive day for BlackRock’s fund came on the same day that a roster of spot Ether (<a href="https://cointelegraph.com/ethereum-price" rel="noopener noreferrer nofollow">ETH</a>) ETFs was <a href="https://cointelegraph.com/news/spot-ethereum-etfs-begin-trading-sec-approval" rel="noopener noreferrer nofollow">approved for trading</a> in the US.
Industry analysts expect spot Ether ETFs to generate <a href="https://cointelegraph.com/news/ether-etfs-sidekick-bitcoin-etfs-bloomberg-analyst" rel="noopener noreferrer nofollow">10% to 20% of the flows</a> that spot Bitcoin ETFs have been generating following their launch in January.
Meanwhile, several analysts who spoke to Cointelegraph on July 21 <a href="https://cointelegraph.com/news/what-joe-biden-withdrawal-means-crypto-bull-run" rel="noopener noreferrer nofollow">are bullish on Bitcoin</a> in the short to mid-term, citing <a href="https://cointelegraph.com/news/joe-biden-withdraws-united-states-presidential-race" rel="noopener noreferrer nofollow">Biden’s last-minute dropout</a> from the presidential race and Trump’s heightened odds of an election victory as strong upside catalysts for the price of Bitcoin.
10x Research founder Markus Thielen <a href="https://cointelegraph.com/news/gary-gensler-resign-2025-biden-exit-white-house-10x-research" rel="noopener noreferrer nofollow">speculated there was a solid chance</a> Republican nominee Donald Trump could make a surprise announcement that he would make Bitcoin a strategic reserve asset at the upcoming Bitcoin 2024 conference in Nashville on July 25.
Thielen said this could trigger a “parabolic” move for the price of Bitcoin in the coming weeks.
Bryan Courchesne, the founder of crypto asset management firm DAIM echoed this prediction on July 22, saying there <a href="https://cointelegraph.com/news/asset-manager-trump-admin-bitcoin-strategic-reserve-asset" rel="noopener noreferrer nofollow">was a good possibility of Trump</a> enshrining BTC as a strategic reserve asset at the conference.
Magazine: <a href="https://cointelegraph.com/magazine/crypto-voters-are-already-affecting-the-2024-presidential-election/" rel="noopener noreferrer nofollow">Crypto exposes sudden rift among Democrats months ahead of election</a>

BlackRock’s IBIT records biggest inflow day since March at $523M

Cointelegraph

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