BlackRock's Spot Bitcoin ETF Draws $526M in Net Inflows
Summary
BlackRock's iShares Bitcoin Trust (IBIT), a Nasdaq-listed exchange-traded fund (ETF) tracking Bitcoin's spot price, attracted $526.7 million in investor funds on Monday, the highest single-day tally since March. Since its inception on January 11, BlackRock has drawn nearly $19.5 billion in investor funds. Meanwhile, the remaining 10 U.S-listed ETFs only attracted a net inflow of $6.9 million on Monday. Bitcoin briefly surpassed the $68,000 mark on Monday, its highest level in over a month, amid rumors that Donald Trump would announce a bigger role for Bitcoin in the financial system at the Nashville Bitcoin conference. However, Bitcoin failed to maintain this high, falling to $66,440, a 1.8% drop on a 24-hour basis.
