Bitcoin ETFs Now Hold 1 Million BTC As Investors Pour Record-Breaking $872 Million Into BlackRocks IBIT
With just days until the United States presidential election, Bitcoin investors bullishness continues putting over $870 million more into BlackRocks spot BTC exchange-traded fund, the iShares Bitcoin Trust (IBIT). This marked the highest inflow day for IBIT since its debut in mid-January this year.
Monster Day For BlackRocks Bitcoin ETF
BlackRocks iShares Bitcoin Trust was the leader of the pack on Wednesday, with a mammoth $872 million net inflow. The figure has exceeded the funds previous high of $849 million posted on March 12, according to data tracked by Sosovalue. It also marked the 13th straight inflow day for IBIT.
Six other spot BTC ETFs also recorded inflows on Oct. 30, with $12.57 million entering Fidelitys FBTC. Ark Invest and 21Shares ARKB, VanEcks HODL, and Invescos BTCO each witnessed modest net inflows of less than $9 million. Bitwises BITB was the only fund with net outflows, shedding $23.9 million in investor money. In total, investors pumped $893.2 million into the 11 spot Bitcoin ETFs marking their second-biggest tally in history.
Wednesdays inflows brought the 11 Bitcoin ETFs cumulative net inflows since their introduction on January 11 to $24.18 billion, Farside data shows.
Meanwhile, Ethereum funds were not enjoying the same momentum, with zero flows for BlackRocks iShares Ethereum Trust ETF (ETHA) and minor flows for Fidelity Ethereum Fund (FETH).
Bitcoin ETFs Racing To Overtake Satoshi
Bloombergs senior ETF analyst Eric Balchunas noted in a post on X that the Herculean inflows into BlackRocks IBIT likely propelled the number of Bitcoins held by the U.S. spot ETFs above the 1 million BTC milestone (valued at over $71.6 billion) ahead of schedule.
Pretty apropos that the biggest daily inflow ever for $IBIT is what pushed the US spot ETFs over the 1 million Bitcoin held mark, posited Balchunas.
He believes that the spot Bitcoin ETFs are on track to become the worlds largest Bitcoin holders as soon as this November, usurping the estimated 1.1 million BTC held by Bitcoins enigmatic inventor, Satoshi Nakamoto.
The Bloomberg analyst also observed that BTC ETF buying started mostly retail but has become increasingly institutional, with institutional shares of spot ETFs likely to hit within a year.
Text source: ZyCrypto
