BlackRock’s Bitcoin ETF Crosses 1 Million BTC In Assets Under Management
BlackRock’s iShares Bitcoin Trust (NASDAQ:IBIT) on Wednesday experienced record-breaking inflows, signaling steadily increasing institutional interest towards cryptocurrency investments.
What Happened: According to data from SoSoValue, IBIT saw an unprecedented $872 million in net inflows on Wednesday, surpassing its previous high set in March. This surge contributed to a total of $893.21 million in net inflows across U.S. spot bitcoin ETFs, marking their second-highest daily total since launch.
Rachael Lucas, a crypto analyst at BTCMarkets, told The Block that central banks’ global shift towards reducing interest rates and the anticipation of a potential Trump victory in the upcoming U.S. presidential election may be influencing investor behavior.
The …
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