Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
Bitcoin ETFs experience unprecedented $1.2 billion influx, with BlackRock’s IBIT at the forefront.
Investor engagement in US-listed spot Bitcoin exchange-traded funds (ETFs) experienced a significant increase on Oct. 6, reflecting BTC‘s ongoing price advancements and rising institutional interest.
Data from SoSoValue indicates that the twelve approved funds collectively garnered approximately $1.2 billion in inflows. This marks their second-largest single-day collection since their inception in 2024 and the most robust performance this year.
Chart Showing Bitcoin ETFs Daily Inflow (Source: Trader T)
A substantial portion of that demand was centered around BlackRock’s iShares Bitcoin Trust (IBIT), which attracted nearly $967 million in new investments and close to $5 billion in trading activity.
IBIT is approaching the $100 billion assets-under-management milestone, an unprecedented achievement for a digital-asset product.
BlackRock IBIT Assets Under Management (Source: Balchunas)
Related Posts
Bloomberg analyst Eric Balchunas highlighted that IBIT has already generated an estimated $244 million in annual revenue for BlackRock, exceeding the earnings of the firm’s other long-standing funds.
BlackRock IBIT Profitability (Source: Eric Balchunas)
This profitability illustrates the extent to which institutional capital has started to incorporate Bitcoin into mainstream investment strategies.
Simultaneously, the recent influx of capital continues a broader trend of strength that these financial investment vehicles have demonstrated lately.
In the previous week alone, Bitcoin ETFs attracted around $3.2 billion in net new investments, marking the second-highest inflow on record.
The post Bitcoin ETFs see record $1.2 billion inflow with BlackRock’s IBIT leading the charge appeared first on CryptoSlate.
