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#BlackRock Bitcoin ETF Attracts $329 Million in Net Inflows Despite Market Pullback
#IBIT Surpasses Major Competitors in Year-to-Date Inflows as Investor Confidence Rises
Key Takeaways:
- BlackRock’s iShares Bitcoin Trust (IBIT) saw a significant $329 million inflow despite a recent dip in Bitcoin prices.
- IBIT outpaced Vanguard’s Total Stock Market ETF in year-to-date inflows.
- US spot
#BitcoinETFs have enjoyed seven consecutive days of net buying, totaling over $2.5 billion.
BlackRock's iShares Bitcoin Trust (IBIT) attracted around $329 million in new investments on Monday, despite Bitcoin's price dropping below $67,000. This marks a strong performance, with US spot Bitcoin ETFs continuing their seven-day winning streak, seeing net inflows of over $2.5 billion, according to Farside Investors data.
Fidelity’s Bitcoin Fund (FBTC) also recorded gains of $6 million on Monday. However, competing ETFs, including those from Bitwise, ARK Invest/21Shares, VanEck, and Grayscale (GBTC), faced redemptions totaling over $40 million, while other ETFs saw no inflows.
IBIT remains a top choice for investors seeking Bitcoin exposure, drawing in over $1 billion in net capital last week alone, accounting for half of US spot Bitcoin ETF inflows.
According to Bloomberg ETF analyst Eric Balchunas, IBIT has now surpassed Vanguard's Total Stock Market ETF in year-to-date inflows, ranking third overall just months after its launch.
As of October 18, IBIT's Bitcoin holdings are valued at $26.5 billion, based on updated data from BlackRock.
Despite recent price fluctuations, the continued interest in Bitcoin ETFs reflects strong institutional engagement, although upcoming US elections and global geopolitical tensions could introduce volatility.
Bitcoin hit a high of $69,500 on Monday before retreating below $67,000. It is currently trading around $67,674, down 2% in the last 24 hours, according to CoinGecko.
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