{"id":595886,"date":"2024-11-08T08:24:57","date_gmt":"2024-11-08T08:24:57","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=595886"},"modified":"2024-11-08T08:24:57","modified_gmt":"2024-11-08T08:24:57","slug":"blackrocks-ibit-bitcoin-etf-posts-record-1-1-billion-inflow-as-bitcoin-hits-new-ath-following-fed-rate-cut","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/blackrocks-ibit-bitcoin-etf-posts-record-1-1-billion-inflow-as-bitcoin-hits-new-ath-following-fed-rate-cut","title":{"rendered":"BlackRock’s IBIT Bitcoin ETF Posts Record $1.1 Billion Inflow As Bitcoin Hits New ATH Following Fed Rate Cut"},"content":{"rendered":"

BlackRock’s IBIT spot Bitcoin ETF (exchange-traded fund) saw a record $1.1 billion in inflows after the US Federal Open Market Committee (FOMC) announced a 25 basis points rate cut, sending BTC to a new all-time high (ATH).<\/span><\/p>\n

IBIT saw $1.119  billion enter its reserves on Nov. 7 following two consecutive days of outflows totaling $113.3 million, according to <\/span>data<\/span><\/a> from Farside Investors. <\/span>Bitcoin reacted by surging to a new ATH of $76,943, according to CoinMarketCap.<\/p>\n

\"Former<\/p>\n

BlackRock’s IBIT Leaves Spot Bitcoin ETF Rivals Trailing In The Dust<\/span><\/h2>\n

BlackRock’s IBIT<\/span><\/a> fund outperformed its spot Bitcoin ETF rivals by a large margin in terms of inflows yesterday. The second biggest inflows were posted by Fidelity’s FBTC, with $190.9 million being added to its capital reserves. <\/span><\/p>\n

Other Bitcoin ETF funds, including ARKB, BITB, HODL, GBTC and BTC ,also recorded inflows. Bitwise’s BITB and Ark’s ARKB recorded positive flows of $13.4 million and $17.6 million, respectively.  <\/span><\/p>\n

Similarly, investors sent $4.3 million, $7.3 million and $20.4 million to HODL, and Grayscale’s GBTC and BTC funds. The remaining Bitcoin ETF funds recorded no new flows on the day.<\/span><\/p>\n

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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<\/a><\/p>\n

— Eric Balchunas (@EricBalchunas) November 8, 2024<\/a><\/p><\/blockquote>\n