BlackRock’s iShares Bitcoin Trust Surges, Records $875 Million in Daily Inflows

• BlackRock’s iShares Bitcoin Trust recorded a historic $875 million inflow in a day, elevating its assets above $30.8 billion.
• IBIT’s $3.3 billion trading volume highlights high investor interest, with Bitcoin price gains adding momentum to demand.
• Ethereum ETFs trail behind, but Bitcoin’s record-breaking inflows reinforce its lead, sparking optimism in crypto markets.

BlackRock’s iShares Bitcoin Trust ETF (IBIT) attracted a substantial $875 million in fresh investments on Wednesday, marking the largest single-day inflow since its inception. According to data from SoSoValue, IBIT’s total net assets have now surpassed $30.8 billion, an impressive milestone achieved in a rapid 293 days. This sets a new record for reaching such a volume, previously held by JPMorgan’s Equity Premium Income ETF (JEPI), which took 1,272 days to reach similar asset levels.

Rising Trading Volumes Indicate Investor Interest

On Tuesday, IBIT witnessed a trading volume spike, hitting $3.36 billion the ETF’s highest in six months. This surge aligned with a notable inflow of $642.87 million, the largest in over seven months. This significant activity played a major role in pushing the day’s total Bitcoin ETF inflows to $870 million, marking the highest inflows seen since June. Notably, Bitcoin’s price has remained above $72,000, adding to the optimistic atmosphere as investors anticipate potential record highs.

The substantial trading volume was an unusual move during a price rise. Typically, ETF trading volumes tend to spike during market downturns; however, Bloomberg analyst Eric Balchunas highlighted this activity as possibly signaling a “fear of missing out” (FOMO) rally, with both institutional and retail investors increasing their positions as Bitcoin’s price advances.

BlackRock Expands Influence in Bitcoin Markets

BlackRock’s impact on Bitcoin markets continues to grow. CEO Larry Fink recently emphasized IBIT’s rapid growth, noting it reached a $23 billion market value in nine months, underscoring the firm’s ongoing commitment to cryptocurrency investments. BlackRock’s recent acquisition of $680 million in Bitcoin further highlights its substantial role in the market.

According to Econometrics, Bitcoin ETFs like IBIT are becoming pivotal to Bitcoin’s price trajectory, as steady demand keeps pressure on the asset. The market analysis firm noted that Bitcoin ETFs have been a main driver of demand, which has strengthened over recent months, highlighting Bitcoin’s increasing allure for institutional investors.

Technical Analysts Signal a Bullish Outlook for Bitcoin

Crypto analyst Rekt Capital also pointed to Bitcoin’s recent price movement as indicative of a bull flag breakout a technical pattern that can often precede further price gains. This trend suggests that Bitcoin has tested and held its previous resistance level of $69,000, strengthening market optimism.