IBIT's new record comes after Bitcoin hit a new all-time high of over $76,000 on November 7th, said Chief Operating Officer (COO) of Bitcoin-native Xapo Bank. Darry McGovern told CoinJournal that Bitcoin's new record shows a “broader shift in institutional trust” seen on BlackRock's recordnet. The 12 Spot Bitcoin ETFs recorded total daily net inflows of $1.38 billion, a new record since going public in January.
BlackRock's iShares Bitcoin Trust (IBIT) exchange-traded fund (ETF) sets a new record with inflows of $1.12 billion, surpassing the previous record of $872 million. did.
This new record, noted by SoSoValue, was set on November 7th when Bitcoin reached an all-time high of $76,677 across major exchanges. Bitcoin hit a new all-time high of $75,317 at the beginning of the week as voting results suggested Donald Trump won. White House.
BlackRock's IBIT net assets currently stand at $34.29 billion, giving it a significant lead over its competitors. In October, BlackRock set a new record by reaching $30 billion in total assets in 293 days.
Dary McGovern, chief operating officer (COO) of Bitcoin native Xapo Bank, told CoinJournal that Bitcoin's new record is “a record-breaking addition to BlackRock's iShares Bitcoin Trust (IBIT). “This suggests a broader shift in institutional investor confidence, accompanied by notable market movements such as net inflows,” he said, adding:
“The growing interest from institutional investors confirms the growing recognition of Bitcoin as a reliable asset class, driven by rising global demand and mainstream adoption.Investors seeking exposure to digital assets As homes grow, the role of Bitcoin as a store of value and a potential hedge against inflation becomes increasingly clear.”
The 12 U.S. Spot Bitcoin ETFs recorded total daily net inflows of $1.38 billion, also a new record since going public in January.
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Bloomberg ETF analyst Eric Balciunas mentioned BlackRock's new record in a post about “There is,” he said.
Everyone told me it was going to be big, but even I was surprised by how big it was and by far the largest daily flow of any Bitcoin ETF to date. https://t.co/Q5MPDMrTYv
— Eric Balchunas (@EricBalchunas) November 8, 2024
Balchunas later said that the Spot Bitcoin ETF had invested a total of $6.7 billion last month and $25.5 billion year-to-date, putting it 93% of the way to surpassing Satoshi Nakamoto's 1.1 million Bitcoins. added.
Hoover City: Bitcoin ETF raised a record $1.4 billion yesterday (Trump effect). IBIT alone was +$1.1 billion. That's an increase of $6.7 billion over the past month and $25.5 billion since the beginning of the year. They all say they earned about 18,000 btc in one day (450 btc mined), and are currently 93% of the way to passing Satoshi's 1.1 million btc. pic.twitter.com/dNLoENlDB3
— Eric Balchunas (@EricBalchunas) November 8, 2024
“This confidence suggests that Bitcoin is now seen as a legitimate hedge and growth asset, both amid traditional market uncertainty and as regulatory transparency increases. It’s particularly attractive,” James Toledano, COO of Unity, a self-custodial cryptocurrency wallet, told CoinJournal. “Look at pension funds in the UK and US are also investing in Bitcoin. Sentiment has changed a lot in this short period of time.”
Grayscale GBTC, the second largest with a net worth of $16.8 billion, had net inflows of $7.31 million. Fidelity reported FBTC of $190.92 million, while Ark and 21Shares reported $17.61 million.
