FameEX Hot Topics | BTC Investors Inject $1.1B into BlackRock ETF as Bitcoin Reaches New High

BlackRock, the world’s largest asset manager, saw record inflows into its Bitcoin exchange-traded fund (ETF) as Bitcoin reached new all-time highs. On November 7, BlackRock’s spot Bitcoin ETF (IBIT) reported $1.1 billion in inflows, following two days of outflows totaling $113.3 million, according to data from Farside.

This surge coincided with Bitcoin hitting a historic high of $76,943, as reported by CoinMarketCap. BlackRock’s IBIT inflows accounted for nearly 82% of the total $1.34 billion generated across all 11 U.S.-listed spot Bitcoin ETFs. Fidelity’s Wise Origin Bitcoin Fund received the second-largest inflow at $190.9 million, while the ARK 21Shares Bitcoin ETF (ARKB) saw $17.6 million.

Market watchers expect these substantial inflows to continue. “Expect another massive day tomorrow,” tweeted crypto trader The Bitcoin Therapist to their 141,400 followers on X. Financial analyst Rajat Soni echoed the enthusiasm, telling their 100,400 followers to “buckle up,” while crypto commentator Zia ul Haque dubbed it “PumpVember.”

Bloomberg ETF analyst Eric Balchunas expressed surprise at the size of the inflows despite anticipating a large figure based on previous trading volumes. “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 posted on X. He noted that on November 6, the IBIT Bitcoin ETF saw nearly $1.1 billion in trading volume within the first 20 minutes of the market opening, following Donald Trump’s victory in the presidential election.

As the Bitcoin market continues to rally, traders and analysts are keeping a close watch on ETF inflows, viewing this as a sign of sustained investor interest in the asset. The unprecedented inflow levels reflect heightened optimism around Bitcoin’s price trajectory and increased institutional interest in digital assets.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.