Bitcoin Price (BTC) Tops $65K, With BlackRock’s IBIT Adding $184M in Inflows
As the price of BTC continues to climb, there has been a resurgence of interest in U.S.-based spot bitcoin ETFs that were previously struggling. One example is BlackRock’s iShares Bitcoin Trust (IBIT), which saw significant inflows on Wednesday. Investors poured in nearly $185 million of new capital into the fund, according to Farside Investors. This influx of funds followed a $98.9 million inflow the day before, marking a stark contrast to the flat to negative flows seen in recent weeks amidst bitcoin’s lackluster price performance.
This renewed interest in bitcoin ETFs reflects the growing confidence in the cryptocurrency market, fueled by BTC’s bullish price movements. Investors are increasingly turning to these ETFs as a way to gain exposure to bitcoin without directly owning the digital asset. The influx of fresh capital into BlackRock’s IBIT indicates a shift in sentiment, with investors seeking to capitalize on the potential upside of BTC’s current price trajectory.
With the cryptocurrency market showing signs of strength and resilience, U.S.-based spot bitcoin ETFs are once again attracting attention from investors looking to capitalize on the growing popularity of bitcoin. The recent inflows into BlackRock’s IBIT highlight the renewed enthusiasm for these investment vehicles, signaling a potentially bullish outlook for bitcoin and the broader cryptocurrency market in the months ahead.
