Another record of the BTC ETF from BlackRock clearly shows the potential of the financial giant. The daily flow of IBIT (iShares Bitcoin Trust) set another record at $700 million. BlackRock's bullish appetite is unstoppable.
BlackRock's BTC ETF records after establishing a new bitcoin ATH
The BTC ETF craze continues, as reflected in the situation on the cryptocurrency market. The record BTC ETF from BlackRock is already over USD 700 million in daily flow and there is no indication that the spot fund from the finance giant will stop. IBIT is doing amazingly well, considering that 9 other spot BTC ETFs were also approved at the same time.
It is worth noting that yesterday's establishment of a new ATH for bitcoin also resulted in a record daily turnover on the BTC ETF market, i.e. over USD 10 billion. These amounts are very impressive considering that the SEC approved Bitcoin ETFs just less than three months ago. This shows, first of all, that the hype for Satoshi Nakamoto's cryptocurrency is still going on, which is only fueled by the digital asset market. The record of BlackRock's BTC ETF indicates huge investor interest.
Will BTC ETFs help bitcoin break USD 100,000?
The popularity of BTC ETFs meant that bitcoin reached its new ATH even before the halving. The new record level of the king of cryptocurrencies is only a few dozen USD higher than that of 2021, but the market is just starting to accelerate. There are only 44 days left until the Bitcoin halving (210,000 blocks), which heralds another green wave. According to analysts, the BTC rate will easily exceed USD 100,000 and may even reach the level of 120,000-140,000 BTC. This is the opinion of, for example, Gracy Chan, the managing director of Bitget.
Interest in the digital asset market will only grow, and the cryptocurrency winter that has lasted over 2 years has finally come to an end. As for spot BTC ETFs, they will continue to drive the digital asset market. Cryptocurrency spring is in full swing.
