The iShares Bitcoin Trust (IBIT), a Bitcoin spot ETF launched by BlackRock, has recorded a massive inflow of US$1 billion, equivalent to approximately Rp15 trillion, within just one week of trading. This surge in investment occurred as Bitcoin’s price soared, reaching the US$68,000 level.
According to data from Farside Investors, the inflow into IBIT has consistently increased since October 14, with the highest single-day inflow hitting US$393.4 million on October 16. This marks the largest inflow for any BlackRock product since mid-March 2024.
The significant inflow coincided with Bitcoin’s recovery from the US$60,000 level at the start of October, peaking this month at US$68,200. At the time of writing, Bitcoin is priced at US$67,880, up 11% over the past week, according to CoinMarketCap.
U.S. Bitcoin Spot ETF Inflows Hit New Milestone
In total, the 12 Bitcoin spot ETFs listed in the U.S. saw a combined net inflow of more than US$1.85 billion this week. Alongside BlackRock, other notable contributors include the Fidelity Wise Origin Bitcoin Fund (FBTC) and the ARK 21 Shares Bitcoin ETF (ARKB), while other ETFs experienced smaller inflows or none at all.
Since their launch in January 2024, these 12 Bitcoin spot ETFs have set a new milestone, with cumulative net inflows reaching US$20.66 billion. Bloomberg ETF analyst Eric Balchunas highlighted the significance of this achievement, stating that this accomplishment is among the most challenging in the ETF world.
“For comparison, it took gold ETFs around five years to reach the same figure,” Balchunas noted in a post on X (formerly Twitter).
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