Bitcoin ETF

Momentum

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/blackrock-bitcoin-etf-attracts-massive-inflows-and-drives-market-momentum/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BlackRock Bitcoin ETF Attracts Massive Inflows and Drives Market Momentum</a> 
BlackRock’s Bitcoin ETF (IBIT) has outperformed its competitors with an impressive $778 million in inflows on Tuesday, accumulating nearly $3 billion in the past week. Additionally, the ETF has significantly contributed to the $30 billion trading volume of the Bitcoin Industrial Complex, which includes stocks like MSTR and COIN. Market analysts believe that BTC prices could soar to $100,000 by the end of November.
<h2 id="blackrock-bitcoin-etf-performance">BlackRock Bitcoin ETF Performance</h2>
In just ten months since its launch, BlackRock’s IBIT has driven the U.S. Bitcoin ETF market with nearly $29 billion in inflows. Due to its rapid growth, IBIT is approximately three times the size of its rival Fidelity’s FBTC.
On Tuesday, November 12, BlackRock’s IBIT recorded over $750 million in inflows for the second consecutive day. Total inflows for the day reached $817 million, with U.S. Bitcoin ETFs purchasing 9,040 BTC. Over the last five trading days, nine ETFs saw a remarkable total inflow of $4.2 billion, mostly attributed to IBIT.
<h2 id="will-it-contribute-to-the-btc-rally">Will It Contribute to the BTC Rally?</h2>
This performance marks the second highest trading day following a recent peak. While trading volumes remain extraordinarily high, some signs of cooling have also appeared.
Antoni Trenchev stated, “We expect BTC prices to reach $100,000 very soon” and noted that it is not the right time for selling amid the Trump rally.
Recent inflows into IBIT indicate that institutional players are accelerating their BTC purchases following Trump’s victory last week, signaling an expectation of a significant rally. This combination of net inflows and BTC price rally has led U.S. Bitcoin ETFs’ total assets to exceed $90 billion, bringing them closer to surpassing gold ETFs’ asset levels at 72% of their target.
In just ten months, the BlackRock Bitcoin ETF (IBIT) surpassed the BlackRock Gold ETF (IAU) in total assets, achieving this significant milestone much faster than IAU, which was launched in 2005.
The inflows into Bitcoin ETFs will be crucial for BTC prices to breach the critical threshold of $90,000 and reach the $100,000 target. Antoni Trenchev, a co-founder of the <a href="https://en.coin-turk.com/impressive-bull-rally-in-the-cryptocurrency-market/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto</a> platform Nexo, expressed confidence that BTC prices will “soon” reach $100,000, adding that now is not the right time to sell.
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BlackRock Bitcoin ETF Attracts Massive Inflows and Drives Market Momentum

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