BlackRock Leads Bitcoin ETF Inflows with $1.1B in One Day
- BlackRocks iShrs Bitcoin Trust (IBIT) ttrcts $1.1 billion in rcord inflows, boosting Bitcoins pric.
- IBIT domints US-listd Bitcoin ETFs, cpturing 82% of totl cpitl influx on Novmbr 7th.
- Positiv inflows xtnd to Ether ETFs, with nlysts prdicting surg to $3,200 for Ethr.
Th worlds lrgst sst mngr, BlackRock, hs cmntd its position s mjor plyr in th cryptocurrncy mrkt. On Novmbr 7th, thir flgship Bitcoin xchng-trdd fund (ETF), iShrs Bitcoin Trust (IBIT), rkd in rcord-brking $1.1 billion in inflows, rcliming its sttus s n ttrctiv invstmnt vhicl ftr xprincing two conscutiv dys of outflows. This surg in invstor confidnc coincids with Bitcoin rching nw ll-tim highs, surpssing $76,943, ccording to CoinMrktCp dt.
BlackRock Leads Bitcoin ETF Inflows
IBITs imprssiv inflows ccountd for stggring 82% of th totl cpitl injctd into th 11 US-listd spot Bitcoin ETFs on tht dy. Collctivly, ths ETFs njoyd hlthy inflow of $1.34 billion. BlackRocks ETF currntly holds significnt mount of Bitcoin, bosting portfolio of 432,674 coins, vlud t ovr $34 billion.
Th Fidlity Wis Origin Bitcoin Fund cm in scond with $190.9 million in inflows. Notbly, ll US spot Bitcoin ETF issurs rgistrd positiv nt inflows on Novmbr 7th, signifying significnt ris in institutionl dmnd for Bitcoin. Th totl ssts undr mngmnt by ths US-bsd Bitcoin ETFs stnd t nrly $79 billion, tstmnt to th growing institutionl pptit for th digitl sst.
Th positiv sntimnt surrounding Bitcoin nd its ETFs hs fuld spcultion of vn highr inflows in th coming dys. Crypto trdr Th Bitcoin Thrpist xprssd optimism, prdicting nothr mssiv dy tomorrow. Finncil nlyst Rjt Soni mirrord this sntimnt, dvising his 100,400 followrs to buckl up in nticiption of furthr pric incrss. Crypto commnttor Zi ul Hqu joind th chorus of bullish voics, christning th month PumpVmbr.
Optimism Spreads to Ether ETFs
Th positiv inflows xtndd byond Bitcoin, with spot Ether ETFs xprincing turnround. Frsid Invstors dt rvls nt positiv inflows of $79.7 million on Novmbr 7th, mrking historys third-highst singl-dy nt inflow. This rnwd invstor intrst, coupld with th brodr mrkt optimism fuld by th rcnt Rpublicn victory, hs promptd Bitfinx nlysts to prdict surg in Ethrs pric to $3,200 in th nr futur.
W do xpct Ether to soon brk out of its long-trm rng, whr thr hs bn hvy ccumultion, th nlysts said. Our trgt for th nxt fw months rmins t $3,200, nd s soon s Bitcoins mrkt cp rtio ginst th totl mrkt cp tops our xpcttion is tht it will b round 60% w cn xpct Ether to hv run.
Related Readings | Bitcoin Breaks Records at $76,481, Could Surge to $150K Soon
Read more: https://www.tronweekly.com/blackrock-sees-1-1b-bitcoin-etf-inflows/
Text source: TronWeekly
