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Bitcoin ETF

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<a href="https://www.blackrock.com/uk" data-wpel-link="external" target="_blank" rel="nofollow external noreferrer">BlackRock</a>‘s spot Bitcoin exchange-traded fund (ETF) recently experienced its largest day of inflows in over four months, with more than $523 million entering the fund on Monday. 
The iShares Bitcoin Trust ETF (IBIT) acquired 7,759 Bitcoin on July 22, valued at just over $523 million at the time of writing, according to Hey Apollo data shared by its co-founder on a July 23 X post. 
These inflows bring the total assets under management for IBIT to 333,000 BTC, which is approximately $22 billion at current prices. 
This day marks the seventh-largest inflow day in terms of US dollars for IBIT. 
The largest single-day inflow for IBIT occurred on March 18, when $849 million worth of BTC was added to the fund. 
The second-largest inflow day was on March 5, with the fund receiving $788 million in inflows, according to FarSide Investors data. 
The significant inflows into BlackRock’s fund coincided with the approval of several spot Ether ETFs for trading in the US. 
READ MORE: <a href="https://www.cryptointelligence.co.uk/real-bedford-fc-boosts-bitcoin-holdings-to-5-37-million-in-latest-acquisition/" data-wpel-link="internal">Real Bedford FC Boosts Bitcoin Holdings to $5.37 Million in Latest Acquisition</a> 
Industry analysts predict that spot Ether ETFs will generate 10% to 20% of the inflows that spot Bitcoin ETFs have seen since their launch in January. 
Additionally, several analysts expressed optimism about Bitcoin’s short to mid-term prospects in conversations with Cointelegraph on July 21. 
They cited US President Joe Biden’s sudden withdrawal from the presidential race and the increased chances of a Trump victory as positive factors for Bitcoin’s price. 
Markus Thielen, founder of 10x Research, speculated that Republican Party nominee Donald Trump might announce Bitcoin as a strategic reserve asset at the upcoming Bitcoin 2024 conference in Nashville, Tennessee, on July 25. 
Thielen suggested that such an announcement could lead to a “parabolic” price increase for Bitcoin in the following weeks. 
Bryan Courchesne, founder of the crypto asset management firm DAIM, echoed this sentiment on July 22, indicating a strong possibility of Trump officially recognizing BTC as a strategic reserve asset at the conference. 
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BlackRock’s Bitcoin ETF Sees Largest Inflow in Four Months Amid Market Optimism

Crypto Intelligence

Alte articole publicate pe 25 iul. 2024

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