BlackRock’s spot Bitcoin ETF (IBIT) has attracted over $1 billion in inflows, marking a new high since its launch and showcasing heightened investor enthusiasm as Bitcoin continues its upward trajectory.
BlackRock Sees Unprecedented Inflows Amid Bitcoin Rally
On Nov. 7, BlackRock, the world’s largest asset manager, saw its Bitcoin ETF draw in a record $1.1 billion in a single day, after experiencing two prior days of net outflows totaling $113.3 million, according to Farside. This influx reflects growing investor confidence as Bitcoin reached another all-time high, nearing $77,000, based on CoinMarketCap data.
BlackRock’s IBIT ETF accounted for a significant share, almost 82%, of the $1.34 billion total daily inflows across all U.S.-listed spot Bitcoin ETFs. Other major funds followed suit: Fidelity’s Wise Origin Bitcoin Fund (FBTC) pulled in $190.9 million, while ARK’s 21Shares Bitcoin ETF (ARKB) received $17.6 million.
Crypto Community Anticipates Continued Inflows
The massive inflow has prompted widespread excitement in the crypto community. Analysts and traders are expecting further growth, with prominent figures on X (formerly Twitter) sharing optimistic forecasts. Crypto trader “The Bitcoin Therapist” anticipated continued inflows, telling their 141,400 followers, “Expect another massive day tomorrow.” Analyst Rajat Soni similarly advised followers to “buckle up,” and commentator Zia ul Haque dubbed the month “PumpVember.”
Record-Breaking Trading Volume Signals Increased Institutional Interest
The record inflows followed a surge in trading volume on Nov. 6. Bloomberg ETF analyst Eric Balchunas noted the extraordinary nature of these inflows, describing them as the largest one-day inflow into any Bitcoin ETF on record. Despite anticipating a strong trading day, Balchunas admitted he was “surprised” by the magnitude of the inflows, further hinting at a sustained bullish outlook for Bitcoin.
The influx comes on the heels of the recent U.S. presidential election results on Nov. 5, where Donald Trump secured victory, potentially influencing market sentiments as BlackRock’s IBIT ETF saw close to $1.1 billion in trading volume within the first 20 minutes of market opening on Nov. 6.
