ššš Market Pullback? #BlackRockā© Bitcoin ETF Nets $318M Inflows
BlackRockās spot Bitcoin ETF, the IBIT fund, remains a top choice among financial investors, drawing approximately $318 million in net inflows on October 31, even as Bitcoin's price slipped by 4% to $68,800.
This influx follows #IBIT ās impressive performance on October 30, when it recorded $875 million in inflows, surpassing its previous high of $849 million. Weekly inflows for the fund now exceed $2 billion, according to Farside Investors data.
Meanwhile, Valkyrieās BRRR fund saw nearly $2 million in new inflows on Thursday, contrasting with other ETFs that experienced notable redemptions. Fidelityās FBTC ETF, for example, ended its two-week positive run with over $75 million in net outflows. Collectively, ETFs from ARK Invest/21Shares, Bitwise, VanEck, and Grayscale faced $213 million in redemptions.
Despite the varied performances, IBITās large inflows have helped US spot #BitcoinETFs maintain a positive trend, bringing in more than $30 million in new investments and marking the sectorās seventh consecutive day of net inflows.
Since its launch, IBIT has accumulated nearly $30 billion in assets, with half of that collected in the last month alone. Total Bitcoin held by US spot ETFs has now topped 1 million. Bloomberg ETF analyst Eric Balchunas noted that IBIT attracted more investor capital in the past week than any other ETF, surpassing long-standing funds like VOO, IVV, and AGG, all within less than ten months of launching.
