The Bitcoin exchange-traded fund (ETF), which debuted in January, recorded more than $1 billion in inflows on Thursday, according to . decryptionas the price of the world's leading cryptocurrency continued to approach $100,000.
According to data from Farside Investors, BlackRock was drawn in The largest inflow was over $608 million, followed by the Fidelity Wise Origin Bitcoin Fund with $301 million and the Bitwise Bitcoin ETF with $68 million. By comparison, the ARK 21Shares Bitcoin ETF returned just $17.2 million, while the Franklin Bitcoin ETF lagged behind with $5.7 million.
But these numbers don't compare to record ETF inflows in the days following Donald Trump's reelection, particularly on Nov. 7. For example, on November 7th, BlackRock's Bitcoin ETF attracted record-breaking inflows. $1.12 billionaccording to data from SoSoValue.
Since President Trump's reelection, Bitcoin has already broken records and soared to new heights, with most analysts expecting Bitcoin to surpass $100,000 later this month. Even prominent Bitcoin skeptic and financial analyst Jim Cramer was all in on Bitcoin, telling his audience that Bitcoin was now a “winner.” This has caused alarm in some quarters, with some investors fearing the potential ramifications of a “reverse Cramer” effect and suggesting that doing the opposite of Mr. Cramer's financial advice would result in more optimal results. I am guessing that it will yield results.
On Friday, Bitcoin ETF reached a new milestone, $100 billion According to Bloomberg ETF analyst Eric Balchunas, it has the largest amount of assets under management. With this, the Bitcoin ETF is on track to become one of the world's largest holders of virtual currencies by market capitalization, with an estimated 600,000 to 1.1 million Bitcoins held under the pseudonym of virtual currency founder Satoshi Nakamoto. Balchunas said it could be exceeded.
In October, the U.S. Securities and Exchange Commission (SEC) also approved options trading on Bitcoin ETFs, paving the way for BlackRock, the world's largest asset manager, to begin trading options on Bitcoin ETFs earlier this month.
