BlackRock, the world’s largest asset manager, recorded over $1 billion in inflows to its Bitcoin exchange-traded fund (ETF) on Nov. 7, coinciding with Bitcoin’s rise to all-time highs.
Data from Farside shows that BlackRock’s spot Bitcoin ETF (IBIT) saw $1.1 billion in inflows, reclaiming this status after two days of outflows that totaled $113.3 million.
Bitcoin surged to nearly $77,000, with CoinMarketCap recording a high of $76,943. IBIT accounted for nearly 82% of the total $1.34 billion in inflows seen across the 11 U.S.-listed spot Bitcoin ETFs. The Fidelity Wise Origin Bitcoin Fund followed, with $190.9 million in inflows, while the ARK 21Shares Bitcoin ETF (ARKB) trailed at $17.6 million.
The surge in spot Bitcoin ETF inflows was noted in CoinGlass data, reflecting traders’ anticipation of continued strong inflows. “Expect another massive day tomorrow,” posted crypto trader The Bitcoin Therapist to 141,400 followers on X. Financial analyst Rajat Soni echoed the sentiment to his 100,400 followers, advising them to “buckle up,” while crypto commentator Zia ul Haque added, “Welcome to PumpVember.”
This large inflow followed a high trading volume day. Bloomberg ETF analyst Eric Balchunas admitted surprise at the volume, despite predicting strong inflows based on trading data from the previous day. “Told y’all it was prob gonna be big, altho even I am surprised it’s that big, by far biggest one day flow of any btc etf ever,” Balchunas shared on X.
Balchunas also highlighted that on Nov. 6, IBIT recorded nearly $1.1 billion in trading volume within the first 20 minutes after markets opened, following Donald Trump’s victory in the U.S. presidential election.
