New York, New York - February 15, 2024 - Get ready for some bullish Bitcoin news! BlackRock's iShares Bitcoin Trust (IBIT), the first US spot Bitcoin ETF, has achieved two impressive milestones in just a few days: surpassing 100,000 Bitcoin under management and exceeding $1 billion in inflows. This surge in institutional adoption signals growing confidence in Bitcoin as a legitimate asset class.
Key Highlights:
- IBIT reaches 100,000 BTC under management: This marks a significant achievement for the ETF and highlights the growing demand for Bitcoin exposure among institutional investors.
- $1 billion+ inflows in a single day: On February 13th, IBIT saw a record $493.1 million inflow, pushing its total inflows past the $1 billion mark. This surpasses even Fidelity's FBTC, which boasts $881 million in total inflows.
- Historic daily net inflow for Bitcoin ETFs: Data shows a staggering $631.3 million net inflow for all Bitcoin ETFs on February 13th, indicating a surge in investor interest.
- Bitcoin price up 21.50% YTD: As of today, Bitcoin price surpassed the $51,500 threshold, marking a significant milestone in its 2024 performance.
Industry Reactions:
- Anthony Pompliano: "There's huge demand for Bitcoin and limited supply, leading to price increases. Expect Bitcoin to continue its upward trend."
- Michael Saylor: "Increased capital inflow reflects growing appeal of Bitcoin as an independent, non-correlated asset. ETF access fuels demand exceeding supply."
What it Means:
These developments suggest growing institutional interest in Bitcoin, potentially leading to further price appreciation. The increasing adoption of Bitcoin ETFs provides mainstream investors with easier access to this digital asset, potentially driving demand even higher.
