BlackRock ETF recorded its largest daily capital inflow in the last 35 days following a slight dip in Bitcoin's price below $64,000.
Capital Inflow into BlackRock ETF
The iShares Bitcoin Trust ETF (IBIT) on August 26 recorded a $224.1 million inflow, its largest since July 22, when it saw $526.7 million in inflows. According to Farside Investors and Cointelegraph Markets Pro data, Bitcoin reached a daily high of $67,534 on that day.
Bitcoin Price Dynamics
Bitcoin has fallen nearly 2% in the last 24 hours to $63,031 from a daily high of $64,121. This came after a strong weekly rally that took BTC from a seven-day low of $58,756 to a high of $64,475 on August 25, its highest price since early August.
Comparison with Other ETFs
IBIT’s inflows helped 11 United States spot Bitcoin ETFs record a $202.6 million joint net inflow for the day. Funds from Bitwise, Fidelity, and VanEck collectively saw a total net outflow of $32.1 million. However, the Franklin Bitcoin ETF and WisdomTree Bitcoin Fund were the only other ETFs to see net inflows of $5.5 million and $5.1 million, respectively.
The inflows into IBIT coincide with anticipated U.S. Federal Reserve interest rate cuts, supporting further crypto investment growth.
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