Investors purchased 4,869 BTC worth $329 million through BlackRock’s iShares Bitcoin Trust on Oct. 21. This comes as crypto markets retreat and other US Bitcoin ETFs experience outflows.

Inflows to iShares Bitcoin Trust

The significant inflow into BlackRock marks the sixth consecutive day of capital inflows, totaling $1.47 billion over the past week. IBIT has attracted over $23 billion since its launch in January.

Current Cryptocurrency Market Situation

BlackRock's significant inflow day comes as markets pull back, with Bitcoin dropping 3.3% from its multi-month high of $69,300 to below $67,000. BTC has since recovered to trade at $67,500.

Challenges for Other Funds and Ethereum ETFs

Other Bitcoin ETFs, such as Bitwise, Ark 21Shares, and Grayscale, witnessed outflows. Ethereum ETFs are also struggling, with a net outflow of $20.8 million.

BlackRock's investment in iShares Bitcoin Trust shows confidence in cryptocurrency, despite temporary market challenges. Other funds continue to navigate the current difficulties.