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22 October, 2024

BlackRock’s Bitcoin ETF Launch Fuels Spot ETF Inflows: $329M Invested Despite Bitcoin Dip

22 October, 2024

Despite a 3% dip in Bitcoin price on October 21st, the launch of BlackRock’s Bitcoin ETF has sparked a surge in interest in spot Bitcoin ETFs across the United States. Investors poured $294 million into these ETFs, signaling strong confidence in the burgeoning market.

This significant inflow highlights the growing institutional appetite for Bitcoin exposure. BlackRock, a prominent asset management firm, entered the fray with its Bitcoin ETF, making a statement about the potential of this digital asset class. The positive response from investors underscores the ongoing evolution of Bitcoin’s status as a viable asset for diversified portfolios.