BlackRock’s IBIT Bitcoin ETF posted $260M in 8th day of inflows.
BlackRock's iShares Bitcoin Trust raised $260 million from Bitcoin investors on July 16, contributing more than half of the day's total net proceeds to spot Bitcoin ETFs.
The U.S. spot bitcoin (BTC) ETF reached $422.5 million, the best-performing day since June 5, according to data from Farside Investors, marking the eighth consecutive day.
The Fidelity Wise Origin Bitcoin Fund posted the second-highest revenue among US spot Bitcoin ETF issuers at $61.1 million, followed by the ARK 21Shares Bitcoin ETF in third place at $29.8 million.
The VanEck Bitcoin ETF and the Invesco Galaxy Bitcoin ETF have seen more than $20 million in revenue
BlackRock's bitcoin stash has returned more than $20 billion after the close on Monday, following a recent purchase of 4,004 bitcoins and a 3% rise in bitcoin's price.
The fund first surpassed $20 billion in assets under management in late May, when bitcoin was rapidly approaching $70,000, making it the world's largest Bitcoin ETF.
He praised BlackRock's recent turnaround, pointing out that only “degen retail” investors would buy Bitcoin products.
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It comes two days after BlackRock CEO Larry Fink referred to bitcoin as a “legitimate” financial instrument that could protect against a currency crash.
Bitcoin is currently trading at $65,470 — up 13.1% over the past week, after falling to a five-month low of $53,600 on July 5.
The price drop was largely fueled by concerns over the German government's sale of nearly 50,000 bitcoins and news that Matt Gox is finally set to pay more than $9 billion to creditors.
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