BlackRock’s Bitcoin ETF Gobbles Up $1B This Week, Fidelity Leads Among Ethereum ETFs With $31M
Posted On October 18, 2024
BlackRock’s iShares Bitcoin Trust (NASDAQ: IBIT) ETF has attracted over $1 billion in inflows this week alone, which has helped propel the apex crypto to a 10% seven-day gain.
What Happened: According to data from SoSo Value, spot bitcoin ETFs in the U.S. garnered $470 million on Thursday alone. BlackRock’s IBIT was the frontrunner, pulling in $309 million, contributing to a total of $1.07 billion for the week.
Overall, spot bitcoin ETFs have experienced significant inflows, with 12 funds amassing over $1.85 billion this week. Ark and 21Shares’ (BATS:ARKB) saw over $100 million in inflows. Grayscale’s (OTC:GBTC) recorded $45.70 million, while Fidelity’s (BATS:FBTC) had $11.69 million.
According to crypto analyst Rachael …
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