BlackRock Bitcoin ETF Sees Massive $640M Inflow as BTC Surges Past $73K

BlackRock’s spot Bitcoin ETF experienced its highest trading volume in six months amid a continued Bitcoin rally. The BlackRock iShares Bitcoin Trust (IBIT) recorded an impressive $642.9 million in inflows on Oct. 29, based on Farside data.

This marks the largest inflow since March 12, bringing the total net inflow for all Bitcoin ETFs to $870.1 million, the highest since June 4. Bloomberg ETF analyst Eric Balchunas highlighted that the fund also had its largest trading day in six months, with $3.3 billion in volume.
Balchunas noted that ETF volumes typically spike during market downturns. However, he suggested the recent surge in BTC prices could mean more substantial inflows this week, saying, “My guess is this is latter, which means look for (more) big inflows this week.”

BlackRock’s Impressive $25B in Total Inflows

Since its launch in January, BlackRock’s Bitcoin ETF has amassed nearly $25 billion in net inflows. ETF Store President Nate Geraci pointed out that out of the roughly 2,100 ETFs launched in the past five years, IBIT ranks fourth in lifetime inflows, achieving this milestone in under ten months.

Balchunas noted that BlackRock wasn’t the only Bitcoin ETF experiencing a surge in trading volume; other major BTC ETFs saw heightened activity over the past two days. Fidelity’s Bitcoin ETF (FBTC) reported the second-largest inflow at $133.9 million on Oct. 29, while Bitwise’s BITB fund attracted $52.5 million. Ark 21Shares and VanEck reported smaller inflows, while Grayscale’s GBTC fund saw a $17.3 million outflow but a $29.2 million inflow into its lower-fee mini Bitcoin Trust (BTC).

Bitcoin Nears $73K Milestone

This significant institutional inflow coincides with Bitcoin’s price nearing its all-time high, reaching $73,562 in late trading on Oct. 29, per CoinGecko. Although it has since slightly retreated to $72,500, BTC remains up 3.5% for the day and only 1.7% below its March peak, hinting at a possible breakthrough into new price discovery.

In contrast, major altcoins like Ethereum (ETH), Solana (SOL), and XRP (XRP) showed minimal movement over the past day, largely lagging behind Bitcoin’s momentum.

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