{"id":83751,"date":"2024-07-10T03:46:17","date_gmt":"2024-07-10T07:46:17","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=83751"},"modified":"2024-07-10T03:47:07","modified_gmt":"2024-07-10T07:47:07","slug":"blackrocks-ibit-acquires-2134-btc-amid-ongoing-bitcoin-etf-inflows","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/blackrocks-ibit-acquires-2134-btc-amid-ongoing-bitcoin-etf-inflows\/","title":{"rendered":"BlackRock’s IBIT Acquires 2134 BTC Amid Ongoing Bitcoin ETF Inflows"},"content":{"rendered":"\n

The BlackRock IBIT Bitcoin ETF <\/a>has gained nearly 5,000 BTC in two days, taking advantage of the BTC price drop. IBIT share price is also recovering.<\/p>\n\n\n\n

\"BlackRock's<\/figure>\n\n\n\n

Bitcoin ETFs in the United States have recently received renewed attention as inflows have increased.<\/p>\n\n\n\n

The spot Bitcoin ETFs recorded $214 million in inflows on Tuesday, July 9, with BlackRock's IBIT taking the lead.<\/p>\n\n\n\n

BlackRock\u2019s IBIT Scoops 2134 BTC<\/h2>\n\n\n\n

Yesterday, the BlackRock Bitcoin ETF IBIT received $121 million in inflows, accumulating a total of 2134 BTC.<\/p>\n\n\n\n

On Monday, the BlackRock IBIT inflows were a staggering $187 million, and the company was able to accumulate more than 3,300 Bitcoins as the BTC price plummeted to $53,500 the day prior.<\/p>\n\n\n\n

This clearly indicates that the Bitcoin ETFs have been absorbing the majority of the selling pressure resulting from the recent selling by the German government<\/a>.<\/p>\n\n\n\n

At present, the total inflows into US BTC ETFs have reached a three-week high.<\/p>\n\n\n\n

Long-term holders of Bitcoin ETFs see this as an excellent opportunity to accumulate additional quantities at a reduced cost as the BTC price plummets to new lows.<\/p>\n\n\n\n

\n

\ud83d\udea8 BlackRock buys 2134 BTC ($121m)!

IBIT holders thank Germany for the discount \ud83d\ude02 pic.twitter.com\/iHpToJ2AUw\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/p>— Julian Fahrer (@Julian__Fahrer) July 9, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

BlackRock's IBIT has been the market leader in terms of net inflows among all spot Bitcoin ETFs in the United States this week.<\/p>\n\n\n\n

On July 9, BTC ETFs saw a total net inflow of $216 million.<\/p>\n\n\n\n

Moreover, BlackRock's IBIT ETF led the push, with a single-day net inflow of $121 million.<\/p>\n\n\n\n

Fidelity\u2019s FBTC ETF<\/a> followed with a net inflow of $90.9503 million.<\/p>\n\n\n\n

Conversely, Grayscale's GBTC ETF saw a single-day outflow of $37.4956 million.<\/p>\n\n\n\n

Bitcoin ETF Shares on A Recovery<\/h2>\n\n\n\n

With the recent decline in bitcoin price<\/use><\/svg><\/span><\/a>, the US BTC exchange-traded funds (ETFs) have been capitalizing on the opportunity.<\/p>\n\n\n\n

As the price of Bitcoin (BTC) plummeted to a four-month low earlier this week, the share price of spot ETFs has been experiencing downward pressure.<\/p>\n\n\n\n

However, the Bitcoin ETF share price has been experiencing a partial recovery, with a 2-5% increase in the past two days, as significant inflows have resumed.<\/p>\n\n\n\n

The iShares Bitcoin Trust (NASDAQ: IBIT) jumped 2.49% on Tuesday, reaching a high of 32.96.<\/p>\n\n\n\n

Although the IBIT share is currently trading at a 17% discount on the monthly chart, it has achieved a 23.77% year-to-date gain.<\/p>\n\n\n\n

The share price of other spot BTC ETFs in the United States has also experienced a similar recovery.<\/p>\n","protected":false},"excerpt":{"rendered":"

The BlackRock IBIT Bitcoin ETF has gained nearly 5,000 BTC in two days, taking advantage of the BTC price drop. IBIT share price is also recovering. Bitcoin ETFs in the United States have recently received renewed attention as inflows have increased. The spot Bitcoin ETFs recorded $214 million in inflows on Tuesday, July 9, with […]<\/p>\n","protected":false},"author":56,"featured_media":83754,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[1613,18740,18741,8615,20410],"class_list":["post-83751","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin-etf","tag-bitcoin-etf-inflows","tag-blackrock-bitcoin-etf","tag-spot-bitcoin-etf-2","tag-us-bitcoin-etfs"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/07\/BlackRocks-IBIT-Acquires-2134-BTC-Amid-Ongoing-Bitcoin-ETF-Inflows.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/83751","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=83751"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/83751\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/83754"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=83751"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=83751"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=83751"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}