Key Points
- BlackRock’s IBIT Bitcoin ETF saw record inflows, marking strong investor interest.
- The demand for Bitcoin ETFs suggests the asset could surpass Satoshi Nakamoto’s holdings, indicating institutional confidence.
Spot Bitcoin Exchange-Traded Funds (ETFs) have been garnering significant attention since their introduction.
The success of these funds, however, has been inconsistent among different providers.
BlackRock’s Bitcoin ETF Sets New Record
BlackRock’s spot Bitcoin ETF, known as IBIT, has seen remarkable inflows, exceeding $25 billion since its launch on January 11th.
In contrast, Grayscale’s GBTC has seen a significant outflow of $20 billion in total.
Data from Farside Investors shows that IBIT recorded its largest single-day inflow since January on the 30th of October, pulling in $875 million.
This was during a crypto market rally, and it surpassed IBIT’s previous record inflow of $849 million set on March 12th.
This marked the thirteenth consecutive day of inflows for IBIT, accumulating around $4.08 billion during this period.
In the same period, Ethereum ETFs faced challenges, with only $4.4 million in inflows on the same day, and BlackRock’s ETHA recorded no new investments.
Bitcoin ETFs Boosting Bitcoin
Traders speculate that a billion-dollar inflow day could be imminent, which underscores the growing market confidence in BlackRock’s Bitcoin ETF as investor demand continues to rise.
This coincides with Bitcoin’s recent surge to an impressive $72,247.96, a strong 7.3% weekly increase.
However, according to CoinMarketCap’s latest update, Bitcoin (BTC) has seen a minor 0.17% dip over the past 24 hours.
The recent increase in BTC ETF inflows indicates that both institutional and retail investors are increasingly investing in Bitcoin through these funds.
This signals a heightened market confidence and demand for BTC, suggesting a positive outlook for Bitcoin as continued inflows could further support upward price momentum.
There is growing speculation that U.S. spot Bitcoin ETFs could surpass Satoshi Nakamoto’s BTC holdings due to the soaring inflows.
Eric Balchunas, Bloomberg’s Senior ETF Analyst, acknowledged this possibility, highlighting the ETF inflows as significant for Bitcoin’s growing institutional traction.
As more investors buy into these funds, the ownership of BTC could change significantly, and ETF holdings might surpass those of Bitcoin’s mysterious creator.
