BlackRock Bitcoin ETF Hits $22.5B as U.S. Inflows Surge

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Cryptodnes2024/10/17 15:51

By:Cryptodnes

Demand for U.S. Bitcoin ETFs surged this week, with BlackRock's IBIT standing out as it reached a significant benchmark of $22.5 billion in total inflows since launching.

The fund drew in 5,805 BTC on Wednesday, bringing in $393.4 million in a single day.

BlackRock’s dominance was clear, with its ETF contributing the majority of Wednesday’s $458 million total inflows across all U.S. Bitcoin ETFs. This brought its cumulative inflows to more than double those of its nearest competitor, Fidelity’s FBTC.

Overall, Bitcoin ETFs in the U.S. saw nearly $1.4 billion in inflows in just the first three days of the week. Market watchers expect the total to climb toward $2 billion by week’s end.

War and Inflation Could Propel Bitcoin Prices, Says BitMEX Co-Founder

Amid shifting investor focus, regulated Bitcoin ETFs are gaining traction as an alternative to direct investments, particularly as doubts arise over MicroStrategy’s valuation.

Separately, Quantity Funds introduced the STKD Bitcoin Gold ETF, trading under the ticker BTGD. Launched on October 16, the fund aims to shield investors from inflation with a blend of Bitcoin and gold futures. The ETF does not hold physical assets, opting instead for a mix of futures and related investment products.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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