$1.1 Billion In One Day: BlackRock's Bitcoin ETF Defies Expectations

Bitcoin reaches new dizzying heights, driven by favorable political winds. The arrival of Donald Trump at the White House, now a pro-crypto president, seems to galvanize the sector, and investors are rushing into Bitcoin ETFs. Leading the race, BlackRock is recording record inflow volumes, shaking up the market. And this is just the beginning of an unprecedented movement of funds.

Bitcoin ETF: The incredible success of BlackRock

The numbers speak for themselves: BlackRock’s Bitcoin ETF, the iShares Bitcoin Trust (IBIT), has shattered transaction records with a massive inflow of $1.1 billion in a single day. This amount had never been reached since its launch in January, a sign of growing enthusiasm.

Told y’all it was prob gonna be big, altho even I am surprised it’s that big, by far biggest one day flow of any btc etf ever. https://t.co/Q5MPDMrTYv

— Eric Balchunas (@EricBalchunas) November 8, 2024

Several factors explain this success:

• $1.12 billion: record inflow volume for IBIT in a single day;
• 82% of total Bitcoin ETF flows in the United States come from BlackRock;
• $34.2 billion in net assets for IBIT, bolstered by the rise of Bitcoin.

“We are in a perfect setup: monetary easing, political stability, and the dynamism of U.S. data“, comments Pav Hundal, an analyst at Swyftx.

This combination attracts unprecedented capital into ETFs, and the pace does not seem ready to slow down. Other funds, although popular, struggle to keep up with this movement, with Grayscale recording net outflows, disadvantaged by its high fees of 1.5%, compared to 0.25% for IBIT.

Bitcoin soars to new heights

The Bitcoin market is in full swing, and records are falling one after another. With a peak surpassing $76,943, BTC attracts an army of investors. This movement is fueled by general enthusiasm, and IBIT alone captures the majority of flows.

On Wednesday, the trading volume of IBIT reached $4 billion, crushing the competition. Even Fidelity, usually robust with its own ETF, cannot keep up with this frenzy.

Observers are very optimistic for the days to come. “Expect one more crazy day tomorrow“, announced trader The Bitcoin Therapist to his subscribers, while others like Rajat Soni and Zia ul Haque talk about an intense November for Bitcoin.

This phenomenon shows that Bitcoin ETFs are not just a passing trend: they are gaining a scope that, according to some experts, could even surpass the ability to create BTC. At this pace, a crypto rally of unprecedented scale seems to be on the horizon.

Recently, some specialists doubted whether Bitcoin ETFs could provide the expected momentum. In light of record capital inflow numbers, the question is now raised: what if the long-awaited boost has just begun?