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BTC Investors Pump $1.1B into BlackRock ETF as Bitcoin Hits New High
The massive inflow into BlackRock’s ETF happened on a day when BTC seized a fresh all-time high. BTC reached nearly $77,000...
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Ayanfe Fakunle
BlackRock, the biggest asset manager in the world, pulled in an impressive $1.1 billion in a single day for its Bitcoin ETF (IBIT). This happened on November 7, as BTC’s price cruised to new heights. This record inflow came after two days of slight outflows totalling $113.3 million, according to Farside data.
The massive inflow into BlackRock’s ETF happened on a day when BTC seized a fresh all-time high. BTC reached nearly $77,000, topping out at $76,943, as reported by CoinMarketCap.
IBIT Takes the Lead Among U.S. Bitcoin ETFs
On November 7, BlackRock’s IBIT accounted for about 82% of the $1.34 billion that flowed into U.S.-listed spot Bitcoin ETFs. The Fidelity Wise Origin BTC Fund followed with $190.9 million in inflows, while the ARK 21Shares Bitcoin ETF (ARKB) saw $17.6 million.
Spot Bitcoin ETFs saw a sum of $1.34 billion in inflows on Nov. 7. Source: CoinGlass
Crypto traders and analysts are buzzing with optimism. Known crypto trader “The Bitcoin Therapist,” with 141,400 followers on X, hinted at even more big inflows, saying, “Expect another massive day tomorrow.”
Financial analyst Rajat Soni told his 100,400 followers to “buckle up,” and crypto voice Zia ul Haque welcomed everyone to “PumpVember.”
Record Inflows Follow High Trading Volume
Bloomberg’s ETF analyst Eric Balchunas expressed surprise over BlackRock’s big inflow, even though he had expected a good number based on recent trading volume. “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 on November 7.
The strong inflow came after a busy trading day on November 6, when BlackRock’s IBIT ETF recorded almost $1.1 billion in trading volume within just 20 minutes of the market opening following Donald Trump’s victory in the U.S. presidential election.
Ayanfe Fakunle is an expert content writer, journalist, and editor at the intersection of crypto, finance, and web3. His mission is to make crypto accessible, engaging, and exciting for everyone.
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