Satoshi

Bitcoin ETF

Bitcoin

BlackRock’s iShares Bitcoin Trust (IBIT) saw a record $872 million in net inflows on Oct. 30 as cumulative BTC held by US Bitcoin ETF (exchange-traded fund) products closed on the 1.1 million held by Bitcoin creator Satoshi Nakamoto. 
Overall, <a href="https://insidebitcoins.com/news/bitcoin-nears-all-time-high-as-spot-btc-etfs-see-870m-surge-driven-by-blackrocks-ibit">U.S. Bitcoin ETFs</a> registered nearly $900 million in inflows on Wednesday alone, as Bloomberg ETF analyst Eric Balchunas said they are gobbling up BTC ‘’like Pac-Man on a bender.’’ 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Ok we gonna need to move up our predictions as yest alone the btc ETFs gobbled up over 12k coins like Pac-Man on a bender, now hold 996k btc- good chance to pass 1 million today (as the ridic volume yest likely to translate to big flows tonight). Legit shot to get to Satoshi by… <a href="https://t.co/Ua9GzhsBwE">https://t.co/Ua9GzhsBwE</a> <a href="https://t.co/84bBprhi6I">pic.twitter.com/84bBprhi6I</a> 
 — Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1851586565530689720?ref_src=twsrc%5Etfw">October 30, 2024</a>
</blockquote> 
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<h2 id="bitcoin-etf-inflows-fueled-by-factors-including-possible-donald-trump-election-win">Bitcoin ETF Inflows Fueled By Factors Including Possible Donald Trump Election Win</h2> 
The surge in inflows marks the largest single-day inflow for BlackRock’s IBIT since its inception in January, surpassing the previous high of $849 million set in March. This influx is part of a broader trend, with the U.S Bitcoin ETFs collectively amassing $72.46 billion worth of BTC in less than 9 months.&nbsp; 
Balchunas said the recent BTC ETF inflows are fueled by factors including anticipation of a pro-crypto outcome in the upcoming U.S. presidential election and central banks’ global shift toward reducing interest rates. 
“US spot ETFs are scheduled to hit 1 million bitcoin held by next Wed and pass Satoshi by mid-December (before their first birthday, amazing),” Balchunas said on X. ”If prices keep going up, Trump wins, we could see FOMO kick in, and it all happens faster.” 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 COUNTDOWN: US spot ETFs are scheduled to hit 1 million bitcoin held by next Wed and pass Satoshi by mid-December (before their first birthday, amazing). They've been adding about 17k btc a week. That said, anything can happen, eg a violent selloff and all this is delayed albeit… <a href="https://t.co/lsU1xSP2Zd">pic.twitter.com/lsU1xSP2Zd</a> 
 — Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1851253463734190477?ref_src=twsrc%5Etfw">October 29, 2024</a>
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<h2 id="b-blackrock-is-a-dominant-player-in-the-market-b">BlackRock Is A Dominant Player In the Market</h2> 
The record-breaking inflows have positioned BlackRock’s IBIT as a dominant player in the Crypto ETF market, significantly outpacing its competitors. Balchunas said IBIT has crossed the $30 billion mark in assets. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Also <a href="https://twitter.com/search?q=%24IBIT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$IBIT</a> has crossed the $30 billion mark in assets after monster flows and price appreciation yesterday. It hit this milestone in just 293 days, an all time record. The old record was <a href="https://twitter.com/search?q=%24JEPI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$JEPI</a> which did it in 1,272 days. <a href="https://twitter.com/search?q=%24GLD&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GLD</a> took 1,790 days. Unreal… <a href="https://t.co/rUskhqhW7b">pic.twitter.com/rUskhqhW7b</a> 
 — Eric Balchunas (@EricBalchunas) <a href="https://twitter.com/EricBalchunas/status/1851587325077197034?ref_src=twsrc%5Etfw">October 30, 2024</a>
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This means that BlackRock’s IBIT holds 41.4% of all the BTC accumulated by ETFs since they began trading in January.&nbsp; 
The Bitcoin price rose 0.4% in the past 24 hours to trade at $72,616 as of 07:00 a.m. EST, according to <a href="https://www.coingecko.com/en/coins/bitcoin">CoinGecko</a>.&nbsp; 
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 <li style="font-weight: 400;"><a href="https://insidebitcoins.com/bitcoin-investors">Rich Bitcoin Investors List – Famous Crypto Investors Who Own Bitcoin</a></li> 
 <li style="font-weight: 400;"><a href="https://insidebitcoins.com/buy-cryptocurrency">A How-To Guide on Buying Cryptocurrency Safely in 2024</a></li> 
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BlackRock’s Bitcoin ETF Hits Record $872M Inflow as BTC ETFs Combined Near Satoshi Nakamoto’s Bitcoin Stash

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