Bitcoin ETFs Attract $1 Billion in Single-Day Inflows
Bitcoin exchange-traded funds (ETF) marked a significant milestone on Thursday, recording over $1 billion in inflows, according to Decrypt. The surge in interest comes as Bitcoin’s price edges closer to the highly anticipated $100,000 mark, reinforcing its position as the leading cryptocurrency.
BlackRock Leads Bitcoin ETF Inflows
Data from Farside Investors highlights BlackRock’s dominance, drawing in over $608 million in a single day. Fidelity Wise Origin Bitcoin Fund followed with $301 million, while Bitwise Bitcoin ETF secured $68 million. The ARK 21Shares Bitcoin ETF trailed with $17.2 million, and Franklin Bitcoin ETF saw the least activity, capturing just $5.7 million.
Record-Breaking Inflows Post-Trump Re-Election
While impressive, these inflows pale in comparison to the post-election surge on November 7, following Donald Trump’s re-election. On that day, BlackRock’s Bitcoin ETF shattered records with inflows of $1.12 billion, according to SoSoValue data. This unprecedented interest underscored the market’s confidence in Bitcoin during moments of political and economic shifts.
Analysts Predict Bitcoin’s Ascent to $100,000
Bitcoin’s trajectory has continued to defy expectations, with analysts widely forecasting it will break the $100,000 barrier later this month. Even historically skeptical figures like Jim Cramer have changed their stance, declaring Bitcoin a “winner.” However, some investors remain cautious, wary of the infamous “inverse Cramer” effect and its potential impact on market sentiment.
Bitcoin ETFs Reach $100 Billion in Assets
On Friday, Bitcoin ETFs hit another milestone, surpassing $100 billion in assets under management, as reported by Bloomberg ETF analyst Eric Balchunas. This growth positions Bitcoin ETFs among the largest holders of the cryptocurrency, potentially surpassing the estimated holdings of Satoshi Nakamoto, the pseudonymous Bitcoin creator, whose stash ranges between 600,000 and 1.1 million coins.
SEC Approval Boosts Bitcoin ETF Options Trading
The momentum for Bitcoin ETFs gained further traction in October when the U.S. Securities and Exchange Commission (SEC) approved options trading. BlackRock, the world’s largest asset manager, quickly leveraged this approval, launching options trading for its Bitcoin ETF earlier this month, further solidifying its leadership in the crypto market.