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8 November

BlackRock's iShares Bitcoin Trust (IBIT) received a record $1.12 billion in net inflows yesterday.

This surpassed its previous record of $872 million recorded on October 30.

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These unprecedented inflows come after the spot Bitcoin exchange-traded fund posted a new daily trading volume record of more than $4 billion.

According to BTCMarkets crypto analyst Rachael Lucas, the surge in inflows can be attributed to strong investor confidence, driven by BlackRock's reputation, the recent Bitcoin rally and favorable market conditions.

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Other contributing factors include institutional confidence, FOMO and delayed capital flows following price rallies.

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