On Mondays, From BlackRock The spot bitcoin exchange-traded fund (ETF) recorded its largest single-day inflow in over 35 days. The iShares Bitcoin Trust (IBIT) received $224 million in net inflows.
NEW: 🇺🇸 While others sell, BlackRock #Bitcoin The ETF saw inflows of $224 yesterday.
The highest in more than a month 🚀 image.twitter.com/sCiSGhKzCp
— Bitcoin Magazine (@BitcoinMagazine) August 27, 2024
The significant capital injection came as Bitcoin pulled back slightly from its recent rally. It highlights continued strong demand for IBIT amid mixed flows for other spot Bitcoin ETFs. IBIT accounted for the bulk of Monday’s $202 million total inflows into the U.S. Bitcoin Spot ETFwhich represented the largest inflow into IBIT since July 22.
Other Bitcoin Spot ETF The results were divergent. Franklin Templeton and WisdomTree's Bitcoin ETFs each added about $5 million. However, Fidelity The Bitcoin ETF saw outflows of $8 million, while Bitwise and VanEck saw outflows of over $15 million.
The mixed performance reflects the diverse perspectives and strategies of investors in the nascent Bitcoin ETF space. However, inflows into IBIT and other select funds extended the overall streak of inflows to eight consecutive days.
With over $20 billion in net inflows, IBIT has cemented itself as the dominant spot Bitcoin ETF. BlackRock now holds over 350,000 bitcoins worth nearly $22 billion in the fund.
The asset manager has recently added IBIT shares to its portfolio.Global Strategic Bond Fund tsunderscoring its confidence. As mainstream adoption increases, BlackRock’s Bitcoin ETF is positioned to see continued inflows.
