![BlackRock’s Bitcoin ETF Sees $526 Million Inflow](/content/images/size/w1200/2024/07/BlackRock-s-Bitcoin-ETF-Sees--526-Million-Inflow.png)
BlackRock's spot Bitcoin ETF, the iShares Bitcoin Trust (IBIT), saw an inflow of $526 million on July 22nd, marking its largest single-day increase since March.
This nearly $527 million influx brought the total assets under management for BlackRock's Bitcoin fund to over $22 billion.
This recent inflow was the seventh-largest daily increase for IBIT in dollar terms. The previous record occurred on March 18th, with $849 million in Bitcoin inflows.
Across all U.S. spot Bitcoin ETFs, total net inflows reached $530 million on Monday, marking the highest weekly total in over seven weeks. This surge indicates renewed institutional interest in Bitcoin investment products.
Other spot Bitcoin ETFs, including the Fidelity Wise Origin Bitcoin Trust and the Invesco Galaxy Bitcoin ETF, also saw notable inflows. However, BlackRock's IBIT led, accounting for over 98% of the total inflows.
Analysts attribute the increasing ETF demand to improving sentiment around Bitcoin. The recent announcement of President Biden exiting the 2024 race and the rising chances of a Trump victory are considered potential catalysts.
BlackRock's spot Bitcoin ETF remains the largest Bitcoin fund globally. The significant inflows reflect ongoing institutional demand for regulated Bitcoin investment vehicles.