Blackrock's Bitcoin Investment: Millions Poured In

BlackRock Inc. has rapidly become one of the largest investors in Bitcoin. The company's Bitcoin exchange-traded fund (ETF) passed $1 billion in investor inflows in 2024, making it the first in a group of nine new ETFs directly holding the cryptocurrency to surpass the milestone. BlackRock's iShares Bitcoin Trust (IBIT) has seen huge inflows, with a record $788.3 million in a single day in March 2024. The company has accumulated nearly 11,500 bitcoin for its spot bitcoin ETF, making it the third-largest bitcoin holder among public companies. As of March 2024, BlackRock's Bitcoin ETF had accumulated more bitcoin than MicroStrategy, with total holdings of 195,985 tokens.

BlackRock's Bitcoin ETF surpasses $1 billion in inflows

BlackRock Inc.'s Bitcoin exchange-traded fund has passed $1 billion in investor inflows, making it the first in a group of nine new ETFs directly holding the cryptocurrency to surpass the milestone. This achievement highlights the growing interest in Bitcoin and the impact of these ETFs on the market.

The iShares Bitcoin Trust (IBIT) saw its biggest single-day haul on a Tuesday in 2024, marking the largest daily inflow among the new US exchange-traded funds investing directly in Bitcoin. The fund attracted $520 million in a single day as Bitcoin's price surged past $60,000, driving a broader rally in digital assets.

BlackRock's early success in the Bitcoin ETF space is notable, with its IBIT accumulating more Bitcoin than MicroStrategy's offering. As of March 10, 2024, IBIT held 195,985 Bitcoin tokens, surpassing MicroStrategy's 193,000 tokens as of February 26, 2024.

The inflows into BlackRock's Bitcoin ETF reflect a broader trend of growing appetite for spot Bitcoin ETFs. The ease of trading Bitcoin via ETFs has attracted investors seeking exposure to the asset class without the hassle of creating new accounts on crypto brokerages or wallets.

BlackRock's Bitcoin ETF has benefited from this trend, with its early consolidation in the market. BlackRock and Fidelity have received 68% of all inflows across the nine new ETFs, totaling nearly $2 billion. The inflows into BlackRock's ETF have contributed to Bitcoin's impressive performance, with the cryptocurrency reaching a new all-time high of nearly $70,000 in March 2024.

BlackRock's IBIT sees record $520 million inflow in one day

On 28 February 2024, BlackRock Inc.'s iShares Bitcoin Trust (IBIT) recorded its biggest one-day haul, attracting a record $520 million in a single day. This was the largest daily inflow among the new US exchange-traded funds investing directly in Bitcoin, the world's biggest cryptocurrency.

The surge in Bitcoin's price past $60,000 fuelled the rush of cash into BlackRock's fund, helping to explain the digital asset's remarkable rally in 2024. This also marked the third-largest day of net inflows for Bitcoin ETFs, with total net inflows hitting around $577 million, or roughly 10,168 BTC.

IBIT's total assets now sit at around $12.7 billion, a combination of Bitcoin's appreciation and more than $7 billion in net inflows. The fund has seen 32 consecutive days of inflows, with its inflows on 28 February eclipsing the total net flows of all US spot Bitcoin ETFs combined on the previous day.

The inflows into BlackRock's fund are part of a broader trend of growing appetite for spot Bitcoin ETFs, as investors have long pushed for Bitcoin funds. The ease of trading assets via ETFs designed to track them has also contributed to the surge in inflows.

BlackRock's Bitcoin ETF reaches $10 billion in record time

BlackRock Inc.'s Bitcoin exchange-traded fund (ETF) has become the first in history to reach $10 billion in record time, fuelled by a rally that continues to send the world's largest cryptocurrency to record heights.

The iShares Bitcoin Trust (IBIT) reached the $10 billion mark in less than two months from its January 11 launch, beating the previous record held by Invesco QQQ, which took just over a year. IBIT's total assets now stand at around $12.7 billion, a combination of bitcoin's appreciation and more than $7 billion in net inflows.

The Securities and Exchange Commission's (SEC) landmark decision to allow 10 spot Bitcoin ETFs to begin trading, including those sponsored by BlackRock and Fidelity Investments, has brought new attention and investment to Bitcoin, pushing it to all-time highs. The ETFs were designed to bridge the gap between crypto enthusiasts and stock market investors, allowing new investors such as financial advisors to buy Bitcoin without the hassle of creating new accounts.

On March 5, when Bitcoin reached a new all-time high of nearly $70,000, the BlackRock ETF saw a record inflow of $788.3 million in a single day, resulting in the purchase of over 11,000 Bitcoins. This massive demand for the new spot ETFs is a key reason for Bitcoin's more than 60% price surge this year, with the cryptocurrency topping $70,000 for the first time on Friday, March 10.

The inflows into BlackRock's ETF have been driven primarily by retail investors looking to access crypto through their tax-advantaged accounts. The fund's rapid accumulation of Bitcoin has put it on pace to become the largest bitcoin holder in the world, surpassing even Tesla's stash of 9,270 bitcoin.

With the rally following the SEC's long-awaited spot Bitcoin ETF approval, the future looks bright for Bitcoin and its investors.

BlackRock's Bitcoin ETF sees $788.3 million in single-day inflows

BlackRock Inc.'s Bitcoin exchange-traded fund (ETF) has seen tremendous success, with the fund attracting significant investor interest and inflows. On Tuesday, March 5, 2024, BlackRock's IBIT spot Bitcoin ETF recorded a remarkable daily inflow of $788.3 million, marking a new high for the fund. This influx of capital pushed the fund's total assets under management to approximately $11.5 billion, solidifying its position as a leading player in the Bitcoin ETF space.

The surge in inflows into BlackRock's IBIT ETF reflects the growing enthusiasm for Bitcoin and cryptocurrency investing. As of March 2024, Bitcoin reached a new all-time high, surpassing the $69,000 mark, which boosted investor sentiment. The rally in Bitcoin's price has been fuelled by various factors, including the approval of spot Bitcoin ETFs, such as BlackRock's IBIT. This has opened the door to fresh investment from a diverse range of market participants, including wealth managers, hedge funds, and everyday investors.

BlackRock's IBIT ETF has been a significant beneficiary of the shift in investor preferences. The fund has consistently attracted strong inflows, with its total assets under management reaching $12.7 billion, a combination of Bitcoin's appreciation and more than $7 billion in net inflows. The success of BlackRock's IBIT ETF has come at the expense of competitors like Grayscale's Bitcoin fund, which has experienced substantial outflows as investors seek more cost-effective alternatives.

The inflows into BlackRock's IBIT ETF highlight the growing appetite for spot Bitcoin ETFs and the ease of trading Bitcoin through these investment vehicles. As of July 2024, BlackRock's Bitcoin ETF recorded another notable inflow of $520 million in a single day, further cementing its position as a leading Bitcoin ETF in the market. This influx of capital has contributed to the remarkable rally in Bitcoin's price, pushing it towards new record highs.

BlackRock's foray into Bitcoin and the success of its IBIT ETF signal a significant endorsement of cryptocurrency as an emerging asset class. With BlackRock being the world's largest asset manager, its entry into the Bitcoin market has triggered a bull market and bolstered investor confidence in the long-term prospects of digital assets. As Bitcoin continues to gain mainstream acceptance, it will be interesting to observe how the landscape evolves and whether other established financial institutions follow suit.

BlackRock's Bitcoin ETF nears 200,000 BTC

BlackRock's iShares Bitcoin Trust (IBIT) has accumulated nearly 200,000 Bitcoins in less than two months since its launch on January 11, 2024. The Bitcoin ETF has seen massive inflows, with investors depositing $371 million in the fund on Wednesday, pushing it past the $1 billion mark in investor inflows. This makes BlackRock's Bitcoin ETF the first in the group of nine new ETFs directly holding the cryptocurrency to surpass this milestone.

The total assets of IBIT now sit at around $12.7 billion, a combination of Bitcoin's appreciation and more than $7 billion in net inflows. The rally that sent the price of Bitcoin over $70,000 has fuelled the growth of BlackRock's ETF, which has benefited from investors seeking a lower-cost alternative to the Grayscale Bitcoin Trust ETF (GBTC).

BlackRock's IBIT has added hundreds of millions of dollars worth of Bitcoin on a daily basis, establishing itself as the largest of the new spot products. The massive demand for the new spot ETFs is the key reason for Bitcoin's more than 60% price surge this year. The cryptocurrency topped $70,000 for the first time on Friday, reaching a fresh all-time high.

The inflows into BlackRock's Bitcoin ETF underscore the growing and steady appetite for spot Bitcoin ETFs. The ease of trading assets via ETFs designed to track them has made these investment vehicles attractive to investors. The arrival of these ETFs has opened the door to fresh investment, giving wealth managers, hedge funds, and everyday investors a new avenue for sinking capital across the asset class.

BlackRock's Bitcoin ETF has now topped $21.5 billion in net assets, making it one of the fastest-growing Wall Street ETFs of all time. The rally following the approval of spot Bitcoin ETFs has been positive, with Bitcoin surging past $60,000 and advancing for five straight days, pushing it to its highest level in two years.

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