According to Cointelegraph, BlackRock's spot Bitcoin ETF achieved over $1 billion in daily inflows for the first time since its launch in January.
BlackRock, the world's largest asset management company, accumulated over $1 billion in inflows into its Bitcoin exchange-traded fund (ETF) on a record trading day, as Bitcoin continued to set new all-time highs.
According to data from Farside, on November 7, BlackRock's spot Bitcoin ETF (IBIT) recorded an inflow of $1.1 billion, recovering from a total outflow of $113.3 million over the previous two days.
Bitcoin nears $77,000.
On this day, Bitcoin hit a new all-time high again, reaching $76,943, according to CoinMarketCap.
IBIT's inflow accounted for nearly 82% of the total inflow of $1.34 billion from the 11 spot Bitcoin ETFs listed in the U.S. on that day.
Fidelity Wise Origin Bitcoin Fund's inflow ranked second, reaching $190.9 million, followed by ARK 21Shares Bitcoin ETF (ARKB), with an inflow of $17.6 million.
Some traders expect more significant inflows in the coming days.
“A large influx again tomorrow,” crypto trader The Bitcoin Therapist said in front of his 141,400 followers on the X platform.
Financial analyst Rajat Soni shared the news with his 100,400 followers on the X platform, claiming that everyone should “be prepared.”
“Welcome to PumpVember,” crypto commentator Zia ul Haque added.
The day of massive inflows was accompanied by a surge in trading volume.
Bloomberg ETF analyst Eric Balchunas stated that while he anticipated large inflows based on the previous day's trading volume, he was “surprised” by the scale of the inflows.
“I told you this could be big, although I didn't expect it to be this big, absolutely the largest single-day inflow for any Bitcoin ETF in history,” Balchunas wrote in an X post on November 7.
On November 6, Balchunas pointed out that the IBIT Bitcoin ETF's trading volume approached $1.1 billion within the first 20 minutes after the market opened, at which time Donald Trump won the presidential election.
