Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
BlackRock’s Bitcoin ETF Attracts $780 Million Inflow in 3 Days

BlackRock’s Bitcoin ETF Attracts $780 Million Inflow in 3 Days

BeInCryptoBeInCrypto2024/06/07 07:59
By:BeInCrypto

BlackRock’s iShares Bitcoin Trust (IBIT) has significantly impacted the crypto market by acquiring close to $780 million in Bitcoin (BTC) over just three days.

This surge in investment positions IBIT as a major influence in shaping investor sentiment and market trends.

BlackRock’s IBIT Attracts Massive Inflows

On Monday, IBIT recorded 0 inflow. However, the fund attracted a substantial $274.43 million on Tuesday, followed by $155.43 million on Wednesday.

According to data from SoSoValue, it had drawn an additional $350 million on Thursday. Consequently, this week’s total inflow for IBIT approached $780 million.

Recently, BlackRock’s iShares Bitcoin Trust reached a new height by becoming the world’s largest Bitcoin ETF. It now boasts $21.4 billion in assets, surpassing Grayscale’s $20.1 billion. The $12.3 billion Fidelity Wise Origin Bitcoin Fund ranks third.

Read more: How To Trade a Bitcoin ETF: A Step-by-Step Approach

On Thursday, other funds saw relatively smaller inflows compared to IBIT. Fidelity’s and VanEck’s Bitcoin ETFs received net inflows of $3.1 million and $2 million, respectively.

Conversely, Ark Invest’s ARKB experienced one of the largest fund withdrawals, with net outflows of $96.6 million. Grayscale’s converted GBTC and Bitwise’s BITB also faced outflows, losing $37.6 million and $3.1 million, respectively.

Spot Bitcoin ETFs have continued to attract investors , achieving the longest streak of net inflows since their inception. These funds have amassed a total of $15.55 billion since January. Although inflows slowed during April and May, they have since rebounded, though still below March’s peak levels.

In the midst of these inflows, Bitcoin’s price has risen slightly. It is currently trading around $71,219, marking a 0.41% increase over the past 24 hours.

Market analysts are optimistic, predicting that Bitcoin could exceed its March peak of $73,798. This expectation is driven by strong ETF demand and anticipated Federal Reserve interest rate cuts.

“There have been massive inflows into spot-Bitcoin ETFs. Macro continues to trend in crypto’s favor, with economic growth slower at a non-recessionary pace and signs of disinflation continuing,” Sean Farrell, head of digital-asset strategy at Fundstrat Global Advisors, said .

Read more: How to Protect Yourself From Inflation Using Cryptocurrency

Other central banks have already started rate cuts . The European Central Bank (ECB) cut its key rate to 3.75%, and the Bank of Canada (BoC) reduced theirs to 4.75%.

These cuts are intended to stimulate economic activity by making borrowing cheaper, which could lead to increased investments in crypto. Lower interest rates generally decrease the appeal of traditional savings, pushing investors towards riskier assets like crypto.

0
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Lighter token launch controversy and Breakpoint conference feedback: What is the overseas crypto community discussing today?

What have foreigners been most concerned about in the past 24 hours?

BlockBeats2025/12/15 08:53
Lighter token launch controversy and Breakpoint conference feedback: What is the overseas crypto community discussing today?

With a 60% plunge in market share, can Hyperliquid return to the top with HIP-3 and Builder Codes?

What has Hyperliquid experienced recently?

BlockBeats2025/12/15 08:53
With a 60% plunge in market share, can Hyperliquid return to the top with HIP-3 and Builder Codes?

Annual Loss of Tens of Millions in Revenue Sparks Governance Controversy, Aave Labs Accused of "Backstabbing" the DAO

The conflict between Aave Labs and Aave DAO over front-end integration and fee attribution essentially questions a core issue: who should control and distribute the value created by the protocol.

BlockBeats2025/12/15 08:52
Annual Loss of Tens of Millions in Revenue Sparks Governance Controversy, Aave Labs Accused of "Backstabbing" the DAO

Small-cap tokens fall to a four-year low—Is the "altcoin bull run" completely hopeless?

Despite having a correlation as high as 0.9 with major crypto tokens, small-cap tokens have failed to provide any diversification value.

ForesightNews 速递2025/12/15 08:32
Small-cap tokens fall to a four-year low—Is the "altcoin bull run" completely hopeless?
© 2025 Bitget