BlackRock Spot Bitcoin ETF Sees Biggest Inflows Since April as BTC Hovering at $70K
The popular US spot Bitcoin {{BTC}} exchange-traded fund is seeing increased activity again after a relatively weak few weeks as Bitcoin trades above the $70,000 level for the first time in a month.
BlackRock's IBIT product saw inflows of more than $290 million on Tuesday, the highest one-day inflow this month and the highest since April 5, according to preliminary data released by Farside Investors. The figures nearly tripled the previous monthly high of $93 million recorded on May 16.
As seen on the product page, IBIT's total assets have now exceeded $19 billion.
Tuesday's numbers now stand out as unusually large compared to activity earlier this month, when IBIT recorded low or even zero inflows through May 15th. IBIT also recorded its first ever day of outflows in April, leading to some bearish sentiment towards Bitcoin at the time. , as reported.
