- BlackRock’s Bitcoin ETF hits $3.3B volume, marking six-month peak as institutional interest surges.
- US Bitcoin ETFs see $870M inflows; BlackRock leads with $640M, suggesting strong investor confidence.
- Bitcoin nears all-time highs; institutional “FOMO” drives record activity in BlackRock’s ETF.
On Tuesday, BlackRock’s Institutional Bitcoin Trust (IBIT) reported $3.3 billion in trading volume. This marks its highest level in six months. Over recent weeks, IBIT has led inflows as institutional interest grows before the U.S. election.
The volume surge reflects rising market anticipation with Bitcoin prices nearing historic highs.
Bitcoin ETFs See Strong Inflows
On October 29, U.S. Bitcoin ETFs reported inflows of nearly $870 million. BlackRock’s IBIT took the largest share, attracting $640 million. This ranks among the biggest inflows since the fund’s launch.
The ETF’s net inflows now approach $25 billion, well ahead of Fidelity’s FBTC. This surge in investment aligns with a broader crypto rally as Bitcoin edges toward its all-time peak.
Analysts See FOMO Driving Institutional Moves
Eric Balchunas pointed out the unusual trading volume in BlackRock’s Bitcoin ETF. ETF volumes usually rise in market downturns, making this activity notable. Balchunas believes that fear of missing out is likely pushing institutional interest.
As Bitcoin prices approach record levels, other Bitcoin ETFs are also seeing strong volume. This may signal a shift in investor confidence towards crypto assets. The upcoming November election is expected to shift the market hence the uncertainty is driving the surge too.
Institutional Confidence Boosts Bitcoin Optimism
Recent inflows show that institutions are backing Bitcoin’s growth potential. In past cycles, retail investors have driven Bitcoin to record highs. This time, large investors appear to be leading.
The Bitcoin MVRV ratio, a key market signal, has also passed its 365-day average. Analysts believe that if retail FOMO follows, Bitcoin could reach and potentially surpass previous highs.
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
