Titbit Tuesday's Biggest Headlines 🤯🚀
Record-breaking Bitcoin ETF inflows: BlackRock's fund sees over $1 billion worth of investments in a single day
Get your dose of cryptocurrency chaos with these top stories from U.TODAY on Google News! 📰
🔥 BlackRock Bitcoin ETF Steals the Show 💰BlackRock's iShares Bitcoin Trust ETF (IBIT) grabbed the spotlight with a massive $971 million influx in a single day on Monday! This is the second-largest single-day inflow for IBIT since its launch in January 2024. In a remarkable turn of events, these inflows have offset the outflows of other ETF products, with the ARK 21Shares Bitcoin ETF (ARKB) losing a staggering $226 million. 💥
👨💼 Anthony Scaramucci on Bitcoin's Safe-Haven Appeal 📈SkyBridge Capital Founder Anthony Scaramucci believes that Bitcoin is witnessing increased demand due to its ability to act as a hedge. Scaramucci explains that Bitcoin's surging price while U.S. dollar confidence falters is evidence of the demand. He adds that this trend has attracted massive amounts of money towards Bitcoin ETFs. 💡
👉 Other Notable Mentions 🌟- Fidelity's Wise Origin Bitcoin Fund and Grayscale Bitcoin Trust ETF recorded $87 million and $43 million in outflows, respectively, on Monday.- IBIT was the only ETF in the green, with overall inflows for the day reaching $591 million.- Bitcoin price continues to hover above the $94,000 level.
🔍 Behind the Scenes 💬Recent massive inflows into IBIT can be linked to renewed interest from institutional investors, Bitcoin's perceived safe-haven status, outperformance over traditional stock market benchmarks, a favorable regulatory environment, and Bitcoin's comparative resilience. 📈📊📉
[Source: SoSoValue]
🌐 Join the Discussion 🗣️Share your thoughts on the ongoing Bitcoin ETF craze and its impact on the crypto market with the #BitcoinNews community! 🔥👀
- The Bitcoin ETF from BlackRock's iShares, IBIT, witnessed the second-largest single-day inflow since its launch in 2024, amounting to $971 million, while other ETF products like ARKB hemorrhaged $226 million.
- SkyBridge Capital Founder Anthony Scaramucci sees increased demand for Bitcoin due to its safe-haven appeal, noting the currency's price surge while the U.S. dollar's confidence falters, which has attracted substantial investments toward Bitcoin ETFs.
- In contrast to IBIT, Fidelity's Wise Origin Bitcoin Fund and Grayscale Bitcoin Trust ETF faced outflows of $87 million and $43 million, respectively, on Monday, while IBIT remained the only ETF in the green with overall inflows reaching $591 million.
- Analysts attribute the recent inflows into IBIT to renewed institutional interest, Bitcoin's perceived safe-haven status, superlative performance over traditional stock market benchmarks, a supportive regulatory environment, and Bitcoin's resilience in comparison to other investments.
