BlackRock Bitcoin ETF Hits Record $872M Inflow as BTC ETFs Combine Near Satoshi Nakamoto's Bitcoin Stash

BlackRock's iShares bitcoin Trust (IBIT) saw a record $872 million in net inflows on Oct. 30, as cumulative btc held by U.S. bitcoin ETF (exchange-traded fund) products closed on the 1.1 million held by the creator of bitcoin, Satoshi Nakamoto.

In general, US bitcoin ETF recorded nearly $900 million in inflows on Wednesday alone, as Bloomberg ETF analyst Eric Balchunas said they are devouring btc “like Pac-Man on a bender.”

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”9.974025974026″>

Ok, we'll have to improve our predictions, since the btc ETFs alone gobbled up over 12k coins like Pac-Man on a spree, they now hold 996k btc – a good chance of breaking over a million today (as the ridiculous volume will probably be will translate to big flows tonight). Legit shot to get to Satoshi for… https://t.co/Ua9GzhsBwE pic.twitter.com/84bBprhi6I

– Eric Balchunas (@EricBalchunas) twitter.com/EricBalchunas/status/1851586565530689720?ref_src=twsrc%5Etfw”>October 30, 2024

bitcoin ETF Inflows Driven by Factors Including Donald Trump's Potential Election Victory

The increase 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 US bitcoin ETFs collectively accumulating $72.46 billion worth of btc in less than 9 months.

Balchunas said the recent btc ETF inflows are driven by factors including anticipation of a pro-crypto outcome in the upcoming US presidential election and central banks' global shift toward lowering interest rates. .

“US spot ETFs are scheduled to hit 1 million bitcoins next Wednesday and surpass Satoshi by mid-December (before his first birthday, unbelievable),” Balchunas said on x. “If prices continue to rise, Trump wins, we could see FOMO kick in and everything will happen faster.”

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”12.371191135734″>

COUNTDOWN: US Spot ETFs are scheduled to hit 1 million bitcoins next Wednesday and surpass Satoshi by mid-December (before his first birthday, awesome). They have been adding around 17k btc per week. That said, anything can happen, for example, a violent liquidation and all this is delayed, although… pic.twitter.com/lsU1xSP2Zd

– Eric Balchunas (@EricBalchunas) twitter.com/EricBalchunas/status/1851253463734190477?ref_src=twsrc%5Etfw”>October 29, 2024

BlackRock is a dominant player in the market

Record inflows have positioned BlackRock's IBIT as a dominant player in the crypto ETF market, significantly outperforming its competitors. Balchunas said IBIT has surpassed the $30 billion mark in assets.

<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”10.807228915663″>

Also twitter.com/search?q=%24IBIT&src=ctag&ref_src=twsrc%5Etfw”>$ VA has surpassed the $30 billion mark in assets after yesterday's monster flows and price appreciation. He reached this milestone in just 293 days, an all-time record. The old disk was twitter.com/search?q=%24JEPI&src=ctag&ref_src=twsrc%5Etfw”>$JEPI which he did in 1,272 days. twitter.com/search?q=%24GLD&src=ctag&ref_src=twsrc%5Etfw”>$GLD It took 1,790 days. Unreal… pic.twitter.com/rUskhqhW7b

– Eric Balchunas (@EricBalchunas) twitter.com/EricBalchunas/status/1851587325077197034?ref_src=twsrc%5Etfw”>October 30, 2024

This means that BlackRock's IBIT owns 41.4% of all the btc accumulated by the ETFs since they began trading in January.

The BItcoin price rose 0.4% in the last 24 hours to trade at $72,616 as of 07:00 am EST, according to bitcoin“>CoinGecko.

Related articles

Most Wanted crypto Launch: Pepe Unchained

• Layer 2 Meme Coin Ecosystem
• Featured on Cointelegraph
• SolidProof and Coinsult audited
• Staking Rewards – pepeunchained.com
• Over $10M Raised in ICO – Ends Soon