BlackRock Bitcoin ETF IBIT Crosses Record $18.5 Billion AUM In Just Six Months

Spectacular inflows into the spot Bitcoin ETF markets have continued for the eighth consecutive day with a complete of $429 million flowing in on Tuesday, July 16. Main the present has been BlackRock Bitcoin ETF IBIT which has now crossed over $18.5 billion in complete property below administration since its inception in January.

BlackRock Bitcoin ETF IBIT Hits Key Milestones

On Tuesday, July 16, the BlackRock Bitcoin ETF IBIT witnessed a large $260 million influx scooping a complete of 4,005 BTC from the open market. Over the previous seven buying and selling periods, IBIT has been the largest contributor to the whole inflows into Bitcoin ETFs. The BlackRock Bitcoin fund alone has contributed to $900 million of inflows throughout this era.

With this present milestone, BlackRock’s IBIT has utterly swallowed all the $18.6 billion of outflows contributed by Grayscale’s GBTC. Because of this, the whole Bitcoin ETF AUM throughout all merchandise hit a report excessive of $16 billion.

As per knowledge from HODL15Capital, the whole Bitcoin ETF inflows for Tuesday stood to be $429 million with the funding funds collectively shopping for 6,608 BTC from the open market. Aside from BlackRock, Constancy’s FBTC noticed a $61.1 million influx whereas Ark Make investments’s ARKB noticed $29.8 million in inflows. Simply throughout the final three days, the US BTC ETFs recorded over $1 billion in complete inflows.

✅ 7/16 U.S. Bitcoin ETF inflows of $429 million (6,608 $BTC)

eighth consecutive optimistic day 🧮👇 Final 3 days > $1 Billion inflows pic.twitter.com/nkauouZ2DT

— HODL15Capital 🇺🇸 (@HODL15Capital) July 17, 2024

All through this month of July, the US BTC ETFs have recorded all optimistic days of inflows, apart from simply two days of outflows on July 2nd and third.

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ETF Buying and selling Volumes Surge

Robust buying and selling volumes for the spot Bitcoin ETFs present large confidence amongst retail in addition to institutional buyers. For the second consecutive day, BlackRock’s IBIT clocked over $1 billion in buying and selling quantity.

Alternatively, Constancy’s FBTC noticed $252.76 million in inflows whereas Bitwise’s BITO clocked $229 million in buying and selling volumes.

✅ U.S. Bitcoin ETF buying and selling volumes on 7/16 👇$IBIT $1 Billion, $FBTC > $GBTC, $ARKB $97m, $BITB $72m pic.twitter.com/EKqrbtBLIR

— HODL15Capital 🇺🇸 (@HODL15Capital) July 16, 2024

Aside from the US markets, demand for spot Bitcoin ETFs in Australia and Hong Kong stays very excessive. The Monochrome BTC ETF IBTC has stacked up a complete of 85 BTC valued at $7.99 million.

These large inflows despatched the Bitcoin price hovering all the way in which to $65,800 ranges earlier as we speak, thereby compensating for the Mt. Gox FUD.

Additionally Learn: Bitcoin Falls As Mt. Gox Transfers $6B In BTC, $210M Liquidated

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Bhushan is a FinTech fanatic and holds a very good aptitude in understanding monetary markets. His curiosity in economics and finance draw his consideration in direction of the brand new rising Blockchain Know-how and Cryptocurrency markets. He’s constantly in a studying course of and retains himself motivated by sharing his acquired data. In free time he reads thriller fictions novels and generally discover his culinary expertise.

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