BlackRock's Institutional Bitcoin Investment Trust (IBIT) investors have invested $329 million into the ETF, despite a recent 3% decline in Bitcoin's value. This substantial investment showcases continued confidence in cryptocurrencies.
The ripple effect from BlackRock's decision was felt across other United States spot Bitcoin ETFs, leading to a net inflow of $294 million on October 21. This suggests that institutional investors remain optimistic about the future of Bitcoin despite short-term price fluctuations.
Source: cointelegraph.com ↗