BlackRock’s Bitcoin ETF (IBIT) shows remarkable performance with $778 million inflows in a day, revitalizing the market.
BlackRock Bitcoin ETF Performance
In ten months since its launch, BlackRock’s IBIT has led the U.S. Bitcoin ETF market with nearly $29 billion inflows. On November 12, IBIT recorded over $750 million inflows for the second consecutive day.
Will It Contribute to the BTC Rally?
This activity marks the second-highest trading day after a recent peak. Antoni Trenchev stated, 'We expect BTC prices to reach $100,000 very soon.' Recent inflows into IBIT suggest active institutional participation post-Trump victory, indicating potential rally.
Future Prospects
Inflows into Bitcoin ETFs will be crucial for BTC prices to breach the $90,000 threshold and hit the $100,000 target. Data suggest now may be a good time to buy rather than sell.
The BlackRock Bitcoin ETF continues to attract significant inflows, raising expectations for BTC price increases to new heights.
