On November 7, BlackRock recorded $1.1 billion in investments into its Bitcoin ETF, marking the largest single-day sum in history. This day also saw Bitcoin hitting new price records.
Record Inflows into Bitcoin ETF
According to Farside, BlackRock's Bitcoin ETF (IBIT) attracted $1.1 billion in a single day. This occurred following two consecutive days of outflows totaling $113.3 million. On this day, IBIT accounted for nearly 82% of the total $1.34 billion in daily inflows into 11 U.S.-trading Bitcoin ETFs.
Bitcoin Hits New Price Records
On the same day, Bitcoin reached new all-time highs, reaching $76,943 according to CoinMarketCap.
Analysts' Reaction to the Inflows
Bloomberg ETF analyst Eric Balchunas expressed surprise at the significant inflows, despite expecting a large amount. "I thought it was going to be big, but even I'm surprised: it's by far the biggest one-day flow of any Bitcoin ETF ever," Balchunas wrote in a post on X.
These significant inflows and new price records highlight the ongoing growth of interest in cryptocurrencies and the significance of Bitcoin in financial markets.
