BlackRock’s Bitcoin ETF Hits Record $872M Inflow as BTC ETFs Combined Near Satoshi Nakamoto’s Bitcoin Stash

BlackRock’s iShares Bitcoin Trust (IBIT) saw a record $872 million in net inflows on Oct. 30 as cumulative BTC held by US Bitcoin ETF (exchange-traded fund) products closed on the 1.1 million held by Bitcoin creator Satoshi Nakamoto.

Overall, U.S. Bitcoin ETFs registered nearly $900 million in inflows on Wednesday alone, as Bloomberg ETF analyst Eric Balchunas said they are gobbling up BTC ‘’like Pac-Man on a bender.’’

Bitcoin ETF Inflows Fueled By Factors Including Possible Donald Trump Election Win

The surge in inflows marks the largest single-day inflow for BlackRock’s IBIT since its inception in January, surpassing the previous high of $849 million set in March. This influx is part of a broader trend, with the U.S Bitcoin ETFs collectively amassing $72.46 billion worth of BTC in less than 9 months. 

Balchunas said the recent BTC ETF inflows are fueled by factors including anticipation of a pro-crypto outcome in the upcoming U.S. presidential election and central banks’ global shift toward reducing interest rates.

“US spot ETFs are scheduled to hit 1 million bitcoin held by next Wed and pass Satoshi by mid-December (before their first birthday, amazing),” Balchunas said on X. ”If prices keep going up, Trump wins, we could see FOMO kick in, and it all happens faster.”

BlackRock Is A Dominant Player In the Market

The record-breaking inflows have positioned BlackRock’s IBIT as a dominant player in the Crypto ETF market, significantly outpacing its competitors. Balchunas said IBIT has crossed the $30 billion mark in assets.

This means that BlackRock’s IBIT holds 41.4% of all the BTC accumulated by ETFs since they began trading in January. 

The Bitcoin price rose 0.4% in the past 24 hours to trade at $72,616 as of 07:00 a.m. EST, according to CoinGecko. 

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