BlackRock's Bitcoin ETF hits record inflow amid crypto market rally

2024-10-31 02:46:12

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The world’s largest asset manager, BlackRock, has recorded the biggest inflow day for its spot Bitcoin exchange-traded fund (ETF) since its launch at the beginning of this year.

On Oct. 30, BlackRock’s spot Bitcoin ETF (IBIT) recorded inflows of $875 million, according to CoinGlass data. This marks the highest inflow day for IBIT since its launch on Jan. 11.

The significant inflow figure has surpassed IBIT’s previous high of $849 million set on March 12, as per Farside data.

Traders are speculating that a billion-dollar inflow day could be imminent.

“I said billion dollar inflows, it was NOT a joke,” crypto trader Trading Axe told their 70,300 X followers.

Meanwhile, crypto trader Cozy The Caller opined to their 164,100 followers that it is going to be “above 1B the day we break ATH for sure.”

This is a developing story, and further information will be added as it becomes available.

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#Bitcoin ETF
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