Premium Invest Hub
  • Investing
  • Stock
  • Latest News
  • Editor’s Pick
  • Economy
Popular Topics
  • Occupied West Bank rocked by day of violence as gunmen kill three Israeli settlers and reprisal attacks reported
  • Azerbaijan’s leader accuses Russia of passenger jet crash ‘cover up’ in blistering new attack on neighbor
  • Spanish woman killed by elephant in Thailand while bathing animal, police say
  • US adds Chinese tech giants to list of companies allegedly working with China’s military
  • Bad news for homebuyers in the Northeast and Midwest

    Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions
    Premium Invest Hub
    • Investing
    • Stock
    • Latest News
    • Editor’s Pick
    • Economy
    • Investing

    BlackRock Bitcoin ETF Sees Record $750 Million Inflows – What’s Going On?

    • March 7, 2024

    BlackRock’s Bitcoin ETF, IBIT, has shattered another record for daily inflows, absorbing $788.3 million from investors Tuesday alone.

    All that money goes straight into buying more Bitcoin (BTC), which the company holds with Coinbase and uses to directly back its shares. Less than two months after launch, BlackRock has now absorbed over $9.1 billion in net flows and owns $11.4 billion in BTC on behalf of its clients.

    BlackRock’s Bitcoin ETF Dominance


    IBIT now ranks 2nd among all ETFs in 1D flow, 1W flow, 1M flow, and 3rd in YTD flows,” wrote Bloomberg ETF analyst Eric Balchunas in a Tuesday X post.

    As the market’s new Bitcoin ETF of choice, IBIT has shattered numerous metrics in a convincing display as one of the most successful ETF launches of all time.

    Bitcoin ETF Flow – 5 March 2024

    All data in. $648m total net inflow for the day. Largest inflows since day 1. Blackrock with a record +$788.3 million day. pic.twitter.com/zOJ5Y5XsEx

    — BitMEX Research (@BitMEXResearch) March 6, 2024

    Tuesday was also a record-breaking day for ETF trading volume, with the Bitcoin funds collectively handling $10 billion in volume.

    Bitcoin’s price briefly tapped a new all-time high of $69,200 on Tuesday, before crashing back to $61,000. As of Wednesday, it trades flat at roughly $67,000 – up 51% year to date.

    Analysts share different theories on where ETF demand is coming from. While many initially thought institutions were buying in, Bitwise CIO Matt Hougan suggested on Tuesday that corporations and major wirehouses are yet to plug into the market and that much demand so far is coming from retail.

    Net inflows to Bitcoin ETFs yesterday were the second largest to date, counting $648 million despite a $332.5 million outflow from the Grayscale Bitcoin Trust (GBTC).

    “First small taste of how ETF investors gonna be way better HODL-ers then (some) people think,” wrote Balchunas to X.

    Why Bitcoin ETFs Are So Successful


    In a recent interview at the Madeira Bitcoin conference, Bitcoin billionaire Michael Saylor said that the success of Bitcoin ETF has even surpassed his expectations.

    “We thought that maybe Bitcoin was a competitor to gold, but it has actually run up the leaderboard, and now it’s starting to nip at the heels of the S&P 500 Index ETFs,” he said..

    According to the executive, Bitcoin ETFs will soon surpass gold ETFs in AUM, making Bitcoin the largest commodity ETF in the United States.

    “These ETFs opened up an entire financial world of awareness, opportunity, and functionality to the 99% of mainstream investors,” he added.

    The post BlackRock Bitcoin ETF Sees Record $750 Million Inflows – What’s Going On? appeared first on Cryptonews.

    Previous Article
    • Investing

    Binance Receives Cyber Security Professional Award from Hong Kong Authorities

    • March 7, 2024
    View Post
    Next Article
    • Editor's Pick

    East Palestine ‘controlled burn’ could have been avoided, NTSB chair says

    • March 7, 2024
    View Post

      Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


      By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

      Popular Topics
      • Occupied West Bank rocked by day of violence as gunmen kill three Israeli settlers and reprisal attacks reported
      • Azerbaijan’s leader accuses Russia of passenger jet crash ‘cover up’ in blistering new attack on neighbor
      • Spanish woman killed by elephant in Thailand while bathing animal, police say
      • US adds Chinese tech giants to list of companies allegedly working with China’s military
      • Bad news for homebuyers in the Northeast and Midwest
      Copyright © 2025 premiuminvesthub.com | All Rights Reserved
      • About us
      • Contact us
      • Privacy Policy
      • Terms & Conditions

      Input your search keywords and press Enter.