On November 7, BlackRock, the world's largest asset manager, recorded more than $1 billion in inflows into its Bitcoin exchange-traded fund (ETF), coinciding with Bitcoin reaching new all-time highs.
Record Inflows
Data from Farside shows that BlackRock's spot Bitcoin ETF (IBIT) saw $1.1 billion in inflows, reclaiming its leader status among U.S. spot Bitcoin ETFs following two days of $113.3 million outflows.
Bitcoin Reaches Historic Highs
Bitcoin surged to nearly $77,000, with CoinMarketCap recording a high of $76,943. IBIT accounted for nearly 82% of the total $1.34 billion in inflows seen across the 11 U.S.-listed spot Bitcoin ETFs, followed by the Fidelity Wise Origin Bitcoin Fund with $190.9 million, and the ARK 21Shares Bitcoin ETF (ARKB) with $17.6 million.
Market Reaction and Analysts' Forecasts
CoinGlass data reflected traders' anticipation of continued strong inflows. Notable analysts and traders on the platform X forecast the continuation of the inflow wave, referring to November as 'PumpVember'. "Expect another massive day tomorrow," stated trader The Bitcoin Therapist.
The record inflow into BlackRock's Bitcoin ETF, coinciding with Bitcoin's price reaching a new all-time high, attracted attention from analysts and traders, underscoring the optimism in the cryptocurrency market.
