$760 Million in 3 Days: BlackRock Bitcoin ETF Hits New Milestone
2024-10-17

BlackRock, the giant investment firm with over $11.5 trillion in assets under management, has continued to record remarkable performance on the crypto market. In the past three days, BlackRock's iShares Bitcoin Trust (IBIT) has raked in millions to keep the asset manager in its leadership position.
Massive surge in Bitcoin ETF investments
Nate Geraci, President of the ETF Store, says the iShares Bitcoin ETF has earned over $760 million in the past three days. This signals the growing interest of institutional and retail investors in Bitcoin. 
iShares Bitcoin ETF has now taken in $760mil in past 3 days…
*$760mil*
Now $22.5bil since January launch.
Just vacuuming up $$$. https://t.co/V277giJBx5— Nate Geraci (@NateGeraci) October 17, 2024
The massive inflows to BlackRock’s Bitcoin ETF indicate that the product appears positioned to capture the demand and is preferred by investors.
This has pushed the total capital invested in BlackRock’s product to a staggering $22.5 billion since it launched in January 2024. The figures indicate that the Bitcoin ETF remains a major success and steadily attracts large amounts of capital from investors.
Experts consider this to indicate that exposure to Bitcoin has risen considerably. However, these investors chose to do so via a closely related traditional financial product such as ETFs.
BlackRock's confidence in Bitcoin's future
Meanwhile, a detailed breakdown of the over $760 million inflow shows a progressive increase.
Available data from Farside shows that BlackRock recorded positive inflows within the first three days of this week. The lowest inflow came on Monday, with $79.5 million. The asset manager hit $288.8 million on Tuesday and surged to $393.4 million on Wednesday to attain this new height.
BlackRock has remained in continuous Bitcoin acquisition mode, even when other asset managers chose to liquidate. Earlier in the month, when the price of Bitcoin dropped, BlackRock did not sell its holdings.
This reflects the asset manager’s confidence in the future potential of the world’s largest cryptocurrency. Regarding its Bitcoin accumulation, the report indicates that BlackRock has holdings of over 362,100 BTC.