IBIT\u2019s new record comes as Bitcoin achieved a new all-time high of over $76,000 on November 7
\nDary McGovern, COO of Bitcoin native Xapo Bank, said to CoinJournal that Bitcoin\u2019s new record indicates a \u201cbroader shift in institutional confidence\u201d seen by BlackRock\u2019s record net inflows
\nThe 12 spot Bitcoin ETFs recorded a daily total net inflow of $1.38 billion, a new record since listing in January<\/p>\n
BlackRock\u2019s iShares Bitcoin Trust (IBIT) exchange-traded fund (ETF) set a new record for inflows, reaching $1.12 billion, topping its previous record of $872 million.<\/p>\n
The new record was noted on SoSoValue<\/a> and comes when Bitcoin reached an all-time high of $76,677<\/a> across major exchanges on November 7. Earlier in the week, Bitcoin broke a new all-time high of $75,317<\/a> as voting results signalled a Donald Trump win for the White House.<\/p>\n BlackRock\u2019s<\/a> IBIT net assets now account for $34.29 billion, significantly pushing it ahead of its competitors. In October, BlackRock set a new record when its total assets reached $30 billion in 293 days<\/a>.<\/p>\n Dary McGovern, COO of Bitcoin native Xapo Bank, said to CoinJournal that Bitcoin\u2019s new record suggests a \u201cbroader shift in institutional confidence, with notable market movements such as BlackRock\u2019s record net inflows into its iShares Bitcoin Trust (IBIT),\u201d adding:<\/p>\n \u201cThe growing institutional interest underscores Bitcoin\u2019s increasing recognition as a trusted asset class, driven by rising global demand and mainstream adoption. As more investors seek exposure to digital assets, Bitcoin\u2019s role as a store of value and a potential hedge against inflation becomes ever clearer.\u201d<\/p>\n The 12 US spot Bitcoin ETFs recorded a daily total net inflow of $1.38 billion, also a new record since listing in January<\/a>.<\/p>\n Bloomberg ETF analyst Eric Balchunas noted BlackRock\u2019s new record in a post on X<\/a>, saying: \u201cEven I am surprised it\u2019s that big, by far biggest one day flow of any BTC ETF ever.\u201d<\/p>\n Told y\u2019all it was prob gonna be big, altho even I am surprised it\u2019s that big, by far biggest one day flow of any btc etf ever. https:\/\/t.co\/Q5MPDMrTYv<\/a><\/p>\n \u2014 Eric Balchunas (@EricBalchunas) November 8, 2024<\/a><\/p>\n\n Balchunas later added that the spot Bitcoin ETFs<\/a> have taken in a combined $6.7 billion in the past month and $25.5 billion year to date, and are 93% of the way to passing Satoshi Nakamoto\u2019s 1.1 million Bitcoin.<\/p>\n HOOVER CITY: Bitcoin ETFs took in a record-smashing $1.4b yesterday (the Trump effect). $IBIT<\/a> alone was +$1.1b. That’s +$6.7b in past mo and $25.5b YTD. All told they feasted on about 18k btc in one day (vs 450 mined) and are now 93% of the way to passing Satoshi’s 1.1mil btc. pic.twitter.com\/dNLoENlDB3<\/a><\/p>\n \u2014 Eric Balchunas (@EricBalchunas) November 8, 2024<\/a><\/p>\n\n \u201cThis confidence suggests that Bitcoin is now seen as a legitimate hedge and growth asset, particularly appealing amid traditional market uncertainties and as regulatory clarity improves,\u201d said James Toledano, COO at Unity, a self-custody crypto wallet, to CoinJournal. \u201cJust look at pension funds in both the UK and US investing in Bitcoin too. Sentiment has changed massively in such a short space of time.\u201d<\/p>\n Grayscale\u2019s<\/a> GBTC, the second-largest by net assets at $16.80 billion, saw a net inflow of $7.31 million. Fidelity\u2019s FBTC reported $190.92 million and Ark and 21Shares saw $17.61 million.<\/p>\n The post BlackRock\u2019s IBIT sets record $1.1 billion in daily inflows<\/a> appeared first on CoinJournal<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" IBIT\u2019s new record comes as Bitcoin achieved a new all-time high of over $76,000 on November 7 Dary McGovern, COO of Bitcoin native Xapo Bank, said to CoinJournal that Bitcoin\u2019s new record indicates a \u201cbroader shift in institutional confidence\u201d seen by BlackRock\u2019s record net inflows The 12 spot Bitcoin ETFs recorded a daily total net […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-1815","post","type-post","status-publish","format-standard","category-bitcoin"],"acf":[],"_links":{"self":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/1815","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/comments?post=1815"}],"version-history":[{"count":0,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/1815\/revisions"}],"wp:attachment":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media?parent=1815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/categories?post=1815"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/tags?post=1815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Nearing Satoshi\u2019s wallet<\/h2>\n