{"id":587396,"date":"2024-10-15T11:38:41","date_gmt":"2024-10-15T11:38:41","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=587396"},"modified":"2024-10-15T11:38:41","modified_gmt":"2024-10-15T11:38:41","slug":"bitcoin-etf-inflows-hit-four-month-high-as-blackrock-ceo-larry-fink-says-btc-is-an-asset-class-like-gold","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-etf-inflows-hit-four-month-high-as-blackrock-ceo-larry-fink-says-btc-is-an-asset-class-like-gold","title":{"rendered":"Bitcoin ETF Inflows Hit Four-Month High As BlackRock CEO Larry Fink Says BTC Is An Asset Class Like Gold"},"content":{"rendered":"

US spot Bitcoin ETF (exchange-traded fund) inflows reached a 4-month high as BlackRock CEO Larry Fink said BTC “is an asset class in itself” similar to gold.<\/span><\/p>\n

Total inflows for the <\/span>Bitcoin ETFs<\/span><\/a> reached $555.86 million on Oct. 14, according to data from <\/span>SoSoValue<\/span><\/a>. The last time the ETFs recorded higher inflows was on June 4, when $886.7 million entered the funds’ reserves.<\/span><\/p>\n

\"Trump<\/p>\n

Larry Fink Likens Bitcoin To Gold In Latest Earnings Call<\/span><\/h2>\n

In BlackRock’s Q3 2024 <\/span>earnings call<\/span><\/a>, Fink said that “Bitcoin is an asset class in itself,” adding that the leading crypto is an “alternative to other commodities like gold.”<\/span><\/p>\n

Fink’s comments come as the asset manager’s <\/span>Bitcoin<\/span><\/a> ETF, IBIT, leads in terms of cumulative inflows since the US funds launched at the start of the year. Following the $79.51 million inflows on Oct. 14, IBIT’s total assets under management (AUM) stand at $21.78 billion.<\/span><\/p>\n

Investor Sentiment Improves As Polymarket Bettors Anticipate A New BTC All-Time High In 2024<\/span><\/h2>\n

In the past 24 hours, Bitcoin’s price rose more than 2% to trade at $65,722.25 as of 3:33 a.m. EST. With the recent gain, the largest <\/span>crypto<\/span><\/a> by market cap is up over 5% on the weekly time frame.<\/span><\/p>\n

Although BTC has pulled back from its intraday high of $66,482.49, bettors on Polymarket are optimistic of a new all-time high (ATH) for the flagship crypto before the end of the year. A <\/span>contract<\/span><\/a> asking if Bitcoin will reach a new peak in 2024 shows 64% odds in favor of a new ATH. <\/span><\/p>\n

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Crypto Fear & Greed Index Now : 65 (Greed)#btc<\/a> #bitcoin<\/a> #crypto<\/a> pic.twitter.com\/khH528KAvN<\/a><\/p>\n

— Crypto Candy🔥💎 (@cryptocandy24x) October 15, 2024<\/a><\/p><\/blockquote>\n