- IBIT’s new record comes as Bitcoin achieved a new all-time high of over $76,000 on November 7
- Dary McGovern, COO of Bitcoin native Xapo Bank, said to CoinJournal that Bitcoin’s new record indicates a “broader shift in institutional confidence” seen by BlackRock’s record net inflows
- The 12 spot Bitcoin ETFs recorded a daily total net inflow of $1.38 billion, a new record since listing in January
BlackRock’s iShares Bitcoin Trust (IBIT) exchange-traded fund (ETF) set a new record for inflows, reaching $1.12 billion, topping its previous record of $872 million.
The new record was noted on SoSoValue and comes when Bitcoin reached an all-time high of $76,677 across major exchanges on November 7. Earlier in the week, Bitcoin broke a new all-time high of $75,317 as voting results signalled a Donald Trump win for the White House.
BlackRock’s IBIT net assets now account for $34.29 billion, significantly pushing it ahead of its competitors. In October, BlackRock set a new record when its total assets reached $30 billion in 293 days.
Dary McGovern, COO of Bitcoin native Xapo Bank, said to CoinJournal that Bitcoin’s new record suggests a “broader shift in institutional confidence, with notable market movements such as BlackRock’s record net inflows into its iShares Bitcoin Trust (IBIT),” adding:
“The growing institutional interest underscores Bitcoin’s increasing recognition as a trusted asset class, driven by rising global demand and mainstream adoption. As more investors seek exposure to digital assets, Bitcoin’s role as a store of value and a potential hedge against inflation becomes ever clearer.”
The 12 US spot Bitcoin ETFs recorded a daily total net inflow of $1.38 billion, also a new record since listing in January.
Nearing Satoshi’s wallet
Bloomberg ETF analyst Eric Balchunas noted BlackRock’s new record in a post on X, saying: “Even I am surprised it’s that big, by far biggest one day flow of any BTC ETF ever.”
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
Balchunas later added that the spot Bitcoin ETFs have taken in a combined $6.7 billion in the past month and $25.5 billion year to date, and are 93% of the way to passing Satoshi…