BlackRock Bitcoin ETF sets record for largest daily revenue of over $1.1 billion.

BlackRock's iShares Bitcoin Trust (IBIT) set a new record for the largest single inflow since its US spot listing in January.

IBIT raised a total of $1.12 billion on Thursday, beating the previous record of $872 million set on October 30. Data From SoSoValue shows.

The fund, which has emerged as a dominant force among 10 other competitors, has a net asset value of $34.2 billion, which is the highest value of Bitcoin.

Pav Hundal, chief market analyst at crypto exchange Swyftx, told Decrypt that “we now have liquidity, political certainty and strong US data.” Capital is everywhere, and right now, it's flowing into ETFs at a rapid pace.

Investor demand for the world's largest crypto is at an all-time high, helping the asset to a sustained record-setting high above $76,870 amid heavy activity among altcoins and cryptocurrencies.

“EFAs are collecting bitcoins two to one times faster than they can generate them,” Hundal added. Sooner or later, this will lead to a broad-based crypto rally. Maybe earlier.

As IBIT posted one The transaction volume was recorded at 4 billion dollars It was close rival Fidelity on Wednesday after President-elect Donald Trump was confirmed for a second term as the 47th president of the United States.

Trump's White House victory is seen by many in the industry as a boon for digital assets. Crypto promises to protect mining interests, establish a bitcoin reserve, and come up with a favorable policy.

IBIT's emergence as a top Bitcoin ETF comes amid changes in institutional crypto investments. The fund has maintained steady inflows since its inception, while rival Grayscale GBTC—the second largest with $16.8 billion in net assets—has faced negative inflows due to its high fees.

BlackRock charges a fee of 0.25%, scrapped as of January, while GBTC is 1.5% higher. Fidelity's FBTC, on the other hand, charges 0.25%, although the drawdown ends in July.

Edited by Sebastian Sinclair