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Bitcoin ETFs Near Million-Token Milestone as BlackRock Leads Surge in Inflows Blockonomi 25 Oct 2024

Bitcoin ETFs Near Million-Token Milestone as BlackRock Leads Surge in Inflows 📈

USA Bitcoin BlackRock

BlackRock’s IBIT Bitcoin ETF has led a recent surge in inflows, securing $482 million over October 23-24, 2024. This substantial movement has contributed to Bitcoin ETF holdings nearing the significant milestone of 1 million BTC, a mark approaching Satoshi Nakamoto’s 1.1 million.

Bitcoin ETFs overall witnessed $2.1 billion in inflows last week, marking their strongest performance since March. However, historical data suggests that such large inflows often precede declines in bitcoin prices, prompting some analysts to issue caution to investors.

Currently, BlackRock’s IBIT holds 396,922 BTC, a significant share in the ongoing momentum within the cryptocurrency market, illustrating BlackRock's leading role in the space.

Source: blockonomi.com ↗

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