BlackRock's Bitcoin ETF Crosses 1 Million BTC In Assets Under Management
Portfolio Pulse from Ivan Crnogatić
BlackRock's iShares Bitcoin Trust (NASDAQ:IBIT) experienced record-breaking inflows, indicating growing institutional interest in cryptocurrency. The ETF saw $872 million in net inflows, contributing to a total of $893.21 million across U.S. spot bitcoin ETFs. This surge may be influenced by global economic factors and political expectations.
October 31, 2024 | 1:20 pm
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BlackRock's iShares Bitcoin Trust (IBIT) saw record inflows of $872 million, indicating strong institutional interest in Bitcoin. This positions IBIT as a significant player in the cryptocurrency ETF market.
The record inflows into IBIT suggest a strong institutional interest in Bitcoin, likely boosting the ETF's attractiveness and potentially its price. The inflows also contribute to the ETF's growing assets under management, enhancing its market position.
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