BlackRock’s IBIT Bitcoin ETF Posts Record $1.1 Billion Inflow As Bitcoin Hits New ATH Following Fed Rate Cut
BlackRock’s IBIT spot Bitcoin ETF (exchange-traded fund) saw a record $1.1 billion in inflows after the US Federal Open Market Committee (FOMC) announced a 25 basis points rate cut, sending BTC to a new all-time high (ATH). IBIT saw $1.119 billion enter its reserves on Nov. 7 following two consecutive days of outflows totaling $113.3 million, according to data from Farside Investors. Bitcoin reacted by surging to a new ATH of $76,943, according to CoinMarketCap. BlackRock’s IBIT Leaves Spot Bitcoin ETF Rivals Trailing In The Dust BlackRock’s IBIT fund outperformed its spot Bitcoin ETF rivals by a large margin in terms of inflows yesterday. The second biggest inflows were posted by Fidelity’s FBTC, with $190.9 million being added to its capital reserves. Other Bitcoin ETF funds, including ARKB, BITB, HODL, GBTC and BTC ,also recorded inflows. Bitwise’s BITB and Ark’s ARKB recorded positive flows of $13.4 million and $17.6 million, re...