Investors purchased a whopping 4,869 BTC worth $329 million through BlackRock\u2019s iShares Bitcoin Trust (IBIT) on Oct. 21.\u00a0The move came as crypto markets retreated and competing spot Bitcoin exchange-traded funds in the United States saw outflows.<\/p>\n
All other funds aside from Fidelity\u2019s saw zero or negative flows, resulting in the total net inflow for all funds at $294.3 million.<\/p>\n
Blackrock Buys the dip! Buys 4869 #Bitcoin<\/a> pic.twitter.com\/ztRCa8zMmO<\/a><\/p>\n \u2014 Thomas | heyapollo.com (@thomas_fahrer) October 22, 2024<\/a><\/p>\n\n The big BlackRock inflow<\/a> marks the sixth consecutive trading day of inflows, which have totaled a whopping $1.47 billion over the past week. IBIT has now seen a total inflow of more than $23 billion since its launch in January.<\/p>\n ETF Store President Nate Geraci said<\/a> the last week\u2019s worth of inflows alone would make it a top-five launch of 2024 out of 570 ETFs.<\/p>\n On Oct. 21, Bloomberg ETF analyst Eric Balchunas commented on the bumper week for the fund, its best since March, adding that its assets under management (AUM) are in the top 2% of all ETFs.<\/p>\n Moreover, IBIT has taken the third spot for inflows year-to-date among all trading ETFs, surpassing the Vanguard Total Stock Market Index Fund (VTI).<\/p>\n $IBIT<\/a> had one hell of a week, +$1.1b in new cash, best week since March, passed $VTI<\/a> for 3rd place overall in YTD flows (insane for new launch, esp late in year, the rest of the top 5 is each over 20yrs and old and over $300b. $IBIT<\/a>\u2018s aum is $26b which is in top 2% of all ETFs. pic.twitter.com\/KX7eD3EzFP<\/a><\/p>\n \u2014 Eric Balchunas (@EricBalchunas) October 21, 2024<\/a><\/p>\n\n Fidelity\u2019s Bitcoin ETF (FBTC) had a minor inflow of $5.9 million, its seventh consecutive trading day of positive numbers.\u00a0However, ETFs from Bitwise, Ark 21Shares, VanEck, and Grayscale all saw outflows as markets retraced.<\/p>\n Spot Ethereum ETFs didn\u2019t have such a rosy day, with a net outflow of $20.8 million on Oct. 21, according<\/a> to preliminary data from Farside Investors.\u00a0Grayscale\u2019s ETHE fund hemorrhaged another $29.6 million, which negated inflows for BlackRock (ETHA) and VanEck (ETHV).<\/p>\n The continuing exodus from Grayscale, over $3 billion so far, has dragged the entire batch of Ethereum<\/a> funds down, and this is likely to continue until investors have exited the high-fee ETHE fund and redistributed to others.<\/p>\n BlackRock\u2019s bumper inflow day comes as markets retreat and Bitcoin tanked<\/a> 3.3% from its multi-month high of $69,300, falling back to below $67,000.<\/p>\n The pullback was expected as leverage and BTC futures open interest hit record highs. BTC has since recovered to trade at $67,500 at the time of writing.<\/p>\n Altcoins were hit harder as usual, with larger losses for Ethereum, Near Protocol, Sui, and Litecoin as total capitalization dipped to $2.44 trillion.<\/p>\n The post BlackRock\u2019s IBIT Defies Bitcoin ETF Outflow Day With $329 Million in Inflows<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Investors purchased a whopping 4,869 BTC worth $329 million through BlackRock\u2019s iShares Bitcoin Trust (IBIT) on Oct. 21.\u00a0The move came as crypto markets retreated and competing spot Bitcoin exchange-traded funds in the United States saw outflows. All other funds aside from Fidelity\u2019s saw zero or negative flows, resulting in the total net inflow for all […]<\/p>\n","protected":false},"author":0,"featured_media":15487,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-15486","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/15486"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15486"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/15486\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/15487"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}BlackRock\u2019s IBIT on a Roll<\/h2>\n
Crypto Market Pulls Back<\/h2>\n