BlackRock’s Bitcoin ETF Soars with $526M Net Inflows, Market Leader in Crypto ETFs

BlackRock’s iShares Bitcoin Trust (IBIT), a Nasdaq-listed ETF, attracted a staggering $526.7 million in investor funds on Monday, marking the highest single-day inflow since March. This robust performance underscores the increasing appetite for digital assets. Bitcoin (BTC) also soared to a month-high of over $68,000 on the same day, though it ultimately fell short of breaking a key price resistance level. The convergence of these positive trends highlights the growing mainstream acceptance and potential of cryptocurrencies, especially Bitcoin, as a viable investment option.BlackRock’s iShares Bitcoin Trust (IBIT), a Nasdaq-listed ETF, attracted a staggering $526.7 million in investor funds on Monday, marking its highest single-day inflow since March. This significant milestone underscores the increasing appetite for Bitcoin exposure through traditional financial instruments. As Bitcoin briefly surpassed the $68,000 threshold, reaching a one-month high, investors flocked to IBIT, seeking to capitalize on the cryptocurrency’s bullish momentum. However, Bitcoin failed to breach a crucial resistance level, leaving investors to assess the next move in this volatile market.

• BlackRock’s IBIT Hits Highest Single-Day Inflow Since March
• BTC Struggles to Surpass Crucial Price Resistance Level

BlackRock’s IBIT Hits Highest Single-Day Inflow Since March

BlackRock’s iShares Bitcoin Trust (IBIT), a Nasdaq-listed ETF mirroring Bitcoin’s spot price, registered a staggering $526.7 million in investor inflow on Monday. This marks the highest single-day tally since March, as revealed by Coinglass data. Since its launch on Jan. 11, BlackRock has garnered nearly $19.5 billion in investor capital. In contrast, the remaining 10 U.S-listed ETFs saw a mere $6.9 million net inflow on the same day, indicating the significant interest and trust investors have in BlackRock’s IBIT for Bitcoin exposure.BlackRock’s iShares Bitcoin Trust (IBIT), a Nasdaq-listed ETF mirroring the cryptocurrency’s spot price, achieved a significant milestone on Monday, registering the highest single-day inflow of investor funds since March. According to preliminary data from Farside Investors, IBIT attracted a staggering $526.7 million in investments. This impressive feat highlights the enduring appeal of Bitcoin and the ETF’s ability to provide investors with a convenient way to access the cryptocurrency market. Since its inception in January, BlackRock’s IBIT has amassed nearly $19.5 billion in investor funds, further testament to its popularity and success. In contrast, the remaining 10 U.S-listed ETFs saw a relatively modest net inflow of just $6.9 million on Monday, underscoring the dominance of IBIT in the crypto ETF market.

BTC Struggles to Surpass Crucial Price Resistance Level

Bitcoin (BTC) surged briefly past the $68,000 milestone on Monday, marking its peak in over a month. Amid speculation surrounding Republican U.S. presidential candidate Donald Trump’s potential crypto-friendly policies, investors anticipated a larger role for BTC in the financial system. However, despite the bullish momentum, BTC struggled to breach the pivotal resistance level, established by the trendline connecting March and April highs. This inability to sustainably surpass the key price barrier paved the way for a subsequent retreat.

Recalling a similar scenario in late May, BTC’s inability to establish a firm footing above the resistance line then triggered a pullback to below $55,000. As of this writing, the digital currency is trading at $66,440, reflecting a 1.8% decline over the past 24 hours. Investors and traders alike are closely watching BTC’s movement, assessing whether it can overcome this significant price resistance and continue its upward trajectory.The rally initially gained momentum on rumors that pro-crypto Republican U.S. presidential candidate Donald Trump may announce an expanded role for Bitcoin in the financial system at the upcoming Nashville Bitcoin conference. Despite this bullish sentiment, BTC failed to sustain its upward trajectory, failing to penetrate the trendline that connects the March and April highs. This lack of momentum above the resistance line has historically led to a pullback in Bitcoin prices.