BlackRock’s Bitcoin ETF sees record inflows since March, with 523 million USD
2 min readBlackRock’s spot Bitcoin exchange-traded fund (ETF), the iShares BTC Trust (IBIT), has seen a significant inflow of capital recently. In short, last Monday (July 22), the fund recorded its largest volume of inflows in the last four months, totaling more than 523 million USD.
On July 22, IBIT acquired 7,759 Bitcoins, valued at just over 523 million USD at the time of the transaction. This data was provided by Hey Apollo and mentioned by the co-founder in a post on social media platform X on July 23.
Overall, these inflows helped bring IBIT’s total assets under management to 333,000 BTC, equivalent to approximately 22 billion USD at current prices. This day stands out as the seventh largest in terms of US dollar inflow volume in the fund’s history.
The largest single-day inflow was recorded on March 18, when 849 million USD worth of BTC was added to IBIT. The second-largest day occurred on March 5, when the fund received 788 million USD, according to data from FarSide Investors.
Bitcoin Could Take Off If Trump Designates the Currency as a Strategic Reserve
On the same day that a series of spot Ether ETFs were approved for trading in the United States, BlackRock’s fund saw this record inflow. Furthermore, industry analysts predict that spot Ether ETFs could capture between 10% and 20% of the inflows seen in the spot BTC ETFs launched in January.
At the same time, several analysts have expressed optimism about Bitcoin’s performance in the short to medium term. They point to Joe Biden’s unexpected withdrawal from the presidential race and Donald Trump’s greater chances of victory as factors that could significantly boost BTC price .
Markus Thielen, founder of 10x Research, speculated that Republican presidential candidate Donald Trump could announce during the upcoming BTC 2024 conference in Nashville, Tennessee on July 25 that BTC could be a strategic reserve asset.
According to Thielen, an announcement of this nature could trigger a “parabolic” appreciation in the price of BTC in the following weeks.
Finally, the following day, Bryan Courchesne, founder of crypto asset management firm DAIM, reinforced this prediction. He also hinted at the possibility of Trump highlighting BTC as a strategic reserve asset during the conference.
