BlackRock’s Bitcoin ETF (IBIT) Breaks Records as Larry Fink Eyed for Treasury Secretary

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IBIT’s July surge to $525M shows renewed investor confidence and potential for continued growth.
BlackRock’s ETF now holds over $22.5B in assets, reflecting strong market impact and investor interest.
Upcoming Ethereum ETF may replicate IBIT’s success, boosting BlackRock’s crypto market position.

BlackRock’s Bitcoin ETF, IBIT, has grabbed attention with a remarkable surge in trading volume and share price, recently recording an impressive $912 million in trading volume. This milestone reflects growing institutional and retail confidence in Bitcoin investments.

The chart for IBIT reveals several notable trends. In February 2024, ETF flows started strong with $386 million, peaking at $612 million before tapering to $96 million. March 2024 saw high volatility, with notable peaks at $849 million and $452 million. This was followed by a plateau in April, where flows stabilized with lower volatility.

May 2024 witnessed a dip with significant outflows and almost zero flow days. However, June showed recovery with positive inflows, reaching $347 million. The upward trend continued into July with a significant surge, ending the month with a high of $525 million.

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