Bitcoin ETFs Recorded A Massive $870 Million Inflows Led BY Blackrock! Is $80,000 Next?
Bitcoin ETFs in the U.S. saw a massive $870 million inflow on Tuesday, fueled by Bitcoin’s price rally toward its all-time high. Leading the charge, BlackRock’s IBIT ETF pulled in $629 million, with Fidelity’s FBTC and Bitwise’s BITB also drawing strong interest. Bitcoin briefly hit $73,000 its highest since March as analysts speculate that a $80,000 price target could be within reach by November.
Record ETF Inflows Signal Strong Interest
Among the top-performing ETFs, BlackRock’s IBIT brought in $629 million alone, followed by Fidelity’s FBTC with $133 million and Bitwise’s BITB with $52 million. Together, these funds helped push trading volumes to $4.75 billion—the highest since March.
Notably, BlackRock's IBIT ETF has seen steady inflows for 12 consecutive days, totaling $3.2 billion since October 10. This consistent interest mirrors Bitcoin’s recent performance, as the cryptocurrency broke past the $73,000 mark for the first time since March.
...FOMO Drives ETF Demand...
As Bitcoin rose 3% on Tuesday, bringing its weekly gain to 7.7%, it sparked a wave of “Fear of Missing Out” (FOMO) among investors. Bloomberg analyst Eric Balchunas noted that this increase in trading volume is unusual for a market uptrend, as high volumes usually appear during market drops.
BlackRock’s IBIT ETF alone saw $3.3 billion in trades, showing strong interest from investors wanting to join in on Bitcoin’s recent rise.
