BlackRock’s spot Bitcoin exchange-traded fund (ETF) has recorded its biggest day of inflows since its launch in January as crypto markets surged.
On Oct. 30, BlackRock’s spot Bitcoin ETF (IBIT) recorded inflows of $875 million, according to CoinGlass data. This marks the highest inflow day for IBIT since its launch on Jan. 11.
13 days of consecutive inflows for IBIT
The figure has surpassed IBIT’s previous high of $849 million set on March 12, as per Farside data. It also marks the thirteenth consecutive inflow day for IBIT, totaling approximately $4.08 billion in inflows during the period.
Traders are speculating that a billion-dollar inflow day could be imminent.
“I said billion dollar inflows, it was NOT a joke,” crypto trader Trading Axe told their 70,300 X followers.
Meanwhile, crypto trader Cozy The Caller opined to their 164,100 followers that it is going to be “above 1B the day we break ATH for sure.”
Total inflows across all the US spot Bitcoin ETFs on Oct. 30 was $896.30 million. Source: CoinGlass
BlackRock’s performance eclipsed the other ten US-listed spot Bitcoin ETFs, which brought in a combined $21.3 million in inflows. Fidelity Wise Origin Bitcoin Fund (FBTC) ranked second with $12.6 million, while Bitwise Bitcoin ETF (BITB) saw the lowest with outflows totaling $23.9 million.
At the time of publication, Bitcoin is trading at $72,410, just 1.7% below its all-time high of $73,679 reached on March 13.
Trader’s eyes are all on US election
Some analysts believe the United States presidential election on Nov. 5 could be the catalyst for Bitcoin to climb above its previous high.
Related: 5 metrics suggest Bitcoin price will break new all-time highs
Swyftx lead analyst Pav Hundal recently told Cointelegraph that a Donald Trump “victory would likely provide a dopamine hit.”
On Oct. 29, IBIT’s daily trading volume hit $3.35 billion, marking its highest level since April 1. Bloomberg ETF analyst Eric Balchunas stated that the surge confirmed “FOMO” among market participants.
Meanwhile, on Oct. 28, Cointelegraph reported that it may be in the coming days that the United States spot Bitcoin ETFs across the board may reach a total of 1 million Bitcoin in holdings.
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