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The BlackRock Bitcoin ETF’s single-day inflow topped seven of those out of 590 ETFs launched in 2024 according to analyst Nate Geraci. BTC Price eyes new ATH. The last inflow peak, of $893m on October 30, was the second-highest daily incline for spot Bitcoin ETFs. They say, as reported by Eric Balchunas, that institutional investors are now investing in BT C ETFs alongside individual investors. HV to piercing new all-time highs might happen in the wake of the US elections and specific activities of large institutions.
The spot Bitcoin ETFs trading penetration is now hitting new records every single day, as these ETFs now hold over 1 million BTC within only 10 days of listing. BlackRock’s iShares Bitcoin Trust (IBIT) has had a stellar performance and is behind most of the majority of the inflows that have occurred within the last couple of weeks.
BlackRock IBIT leads in flows to Spot Bitcoin ETF
Wednesday was October 30, and Bitcoin ETF spot inflow reached $893 million, making it only next to the second option since the start of operations in January 2024. However, if we look, BlackRock’s IBIT only had over $ 870 million inflows while boosting its overall inflows to over $25.5 billion in its overall existence. The same has also seen record high nett daily inflow to its IBIT system yesterday. After what was seen yesterday, the sum total of the value of all nine of the US spot ETFs increased past the 1 million Bitcoins mark.
ETF specialist Nate Geraci updated an extraordinary growth chart of the momentum of the iShares Spot Bitcoin ETF (IBIT). Geraci further observed that IBIT mobilized more funds a single day more than 590+ new ETFs that you would expect to have raised in the entire year of 2024.
Are Investors Over Optimistic Pre-US Elections Season?
Examining the buying into the spot Bitcoin ETFs one starts to realize that institutional investors are already accumulating massive positions. As per Bloomberg ETF strategist Eric Balchunas, both long-term individual investors and large institutions have been accumulating the BTC ETFs in recent months. He wrote: “This started beginning with retail but was expanding to taking advisors institutional which currently owns like 20% of shares out now but should easily hit 40% in a year”.
The recent developments occurred when the US election results were one week away with prediction markets predicting a Donald Trump win. While Large Investors like MicroStrategy have been becoming bullish while announcing their intentions to purchase bitcoins for $42 Billion worth. Sean McNulty, director of trading at liquidity provider Arbelos Markets said:
Further, Bitcoin is near to touching a new record high value and currently, it is being traded a little below $72, 200. Then, as the market gets a better understanding of the US elections, it can cause BTC to skyrocket in November, setting a new all-time high +, and more.
