BTC investors pour $1.1B into BlackRock ETF as Bitcoin marks another high
2024-11-08

The world’s largest asset manager, BlackRock, accumulated over $1 billion of inflows to its Bitcoin exchange-traded fund (ETF) across a record trading day as Bitcoin continued to break all-time highs. 
On Nov. 7, BlackRock’s spot Bitcoin ETF (IBIT) clocked $1.1 billion in inflows, reclaiming inflow day status after two consecutive days of outflows totaling $113.3 million, according to Farside data.
It comes on the same day as Bitcoin once again clocked new all-time highs, reaching $76,943, according to CoinMarketCap data.
IBIT’s inflows represented almost 82% of the total $1.34 billion in daily inflows into the 11 spot Bitcoin ETFs trading in the United States.
Bloomberg ETF analyst Eric Balchunas was “surprised” by how significant the inflows were, even though he was anticipating it to be a large amount.
“Told y’all it was prob gonna be big, altho even I am surprised it’s that big, by far biggest one day flow of any btc etf ever,” Balchunas wrote in a Nov. 7 X post.
This is a developing story, and further information will be added as it becomes available.