The upward momentum in the Bitcoin and cryptocurrency markets has also had a positive impact on spot Bitcoin ETFs, while ETF inflows have accelerated since last week.
With no signs of stopping anytime soon, spot Bitcoin ETFs are hitting records. On Monday, BlackRock’s iShares BTC ETF (IBIT) reached a milestone, bringing its total inflows since inception to over $23 billion.
This achievement puts IBIT among the top three ETFs by inflows launched in 2024.
BlackRock is the Leader Again in Daily Entries!
On Monday, October 21, total inflows stood at $294 million, with BlackRock’s IBIT alone taking the majority of inflows.
Yesterday, IBIT recorded $329 million in inflows and the rest of the other ETFs recorded zero or outflows.
According to Farside Investors data, IBIT recorded an inflow of $329 million, FBTC $5.9 million, BITB $22.1 million, ARKB $6.1 million, HODL $7.6 million and GBTC $4.8 million.
BTCO, EZBC, BRRR, and BTCW recorded zero inflows.
BlackRock Reaches Milestone!
BlackRock ETF IBIT has recorded a total inflow of $1.5 billion in the last six days, while Bloomberg ETF analyst Eric Balchunas said the BlackRock Bitcoin ETF had its best week yet.
Balchunas also said that IBIT's assets under management now exceed $26 billion, which puts it in the top 2% of all ETFs.
Although there were strong inflows into spot Bitcoin ETFs, it did not have much impact on the BTC price as it failed to break the critical resistance of $70,000. The Bitcoin price once again faced selling pressure and fell to $67,300, down 2% in the last 24 hours.
*This is not investment advice.