Blackrock’s IBIT Flipped Fidelity’s FETH pulling in $527 million

Blackrock’s IBIT flipped a recent trend pulling in more funds than Fidelity’s FETH. 

The Bitcoin ETF recorded an inflow of $527 million, the largest for the day contributing to the $627 net inflow of the 11 Bitcoin ETFs. 

The Bitcoin ETFs recorded more inflows and an increase in investor activity reversing a recent trend of low investor activity. 

Six Bitcoin ETFs recorded transactions out of the 11 existing Bitcoin ETFs indicating an increase in investor activity. 

Farside Investors UK revealed that Blackrock’s IBIT led the inflows for the day pulling in $527.9 million for the day. 

Ark 21 shares ARKB followed suit with an inflow of $155.4 million trailing Blackrock’s IBIT. 

VanEck’s HODL, Fidelity’s FETH, and Bitwise BITB recorded inflows of less than $100 million. 

The three ETF funds recorded inflows of $5.7 million, $4.4 million, and $2.7 million respectively. 

Grayscale’s GBTC recorded the only outflow for the day losing $70.0 million. 

The 11 Bitcoin ETFs recorded a net inflow of $626 million about $100 million less than the day before. 

Increased investor activity together with positive inflation numbers helped push Bitcoin above the $100,000 mark yesterday. 

The primary Crypto asset is currently exchanging hands for $102,776 surging by 3.9% in the last 24 hours. 

On a 7-day scale, the crypto asset is up by 10.1% adding about $6000 in price. 

Bitcoin is expected to get a major price boost following Donald Trump’s inauguration by Monday. 

The Administration is expected to set up a strategic bitcoin reserve for the United States acting as a catalyst for other jurisdictions to get involved in the Bitcoin Reserve demand. 

This is set to explode the demand for Bitcoin thereby driving up the price. 

Cryptoquant predicted Bitcoin to hit $249,000 in 2025 under Donald Trump’s administration.